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A two-tier climate club exploits the comparative advantage of large countries to mete out punishments through trade, while taking their capacity to resist punishment as a constraint. Countries outside the coalition price carbon at a fixed fraction of the average carbon price adopted within the...
Persistent link: https://www.econbiz.de/10013285515
In 2005, an EU-wide emissions trading scheme covering major CO2 producing sites shall come into power. The key … EU emissions trading scheme through National Allocation Plans. …
Persistent link: https://www.econbiz.de/10003245477
The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modified to allow for stock-dependent fossil fuel extraction costs and partial exhaustion of fossil fuel reserves, a negative impact of global warming on growth, mean reversion in climate damages,...
Persistent link: https://www.econbiz.de/10011434598
When considering that increasing CO2 emissions are one of the most important reasons for global warming, the prospect … emissions and fossil fuel consumption, nonrenewable resources as capital stock can be used to produce or facilitate the use of …
Persistent link: https://www.econbiz.de/10014081657
The EU emissions trading system (ETS) and the promotion of renewable energy are overlapping regulations. Although the …
Persistent link: https://www.econbiz.de/10011936005
We derive optimal subsidization of renewable energies in electricity markets. The analysis takes into account that capacity investment must be chosen under uncertainty about demand conditions and capacity availability, and that capacity as well as electricity generation may be sources of...
Persistent link: https://www.econbiz.de/10010253455
other climate policies, on carbon dioxide emissions at the aggregate national level. The paper uses cross-country dynamic … of around 0.9% in CO2 emissions per capita in the short run, and of around 3.7% in the long run. An increase by one index … point of the green R&D expenditure support policy index leads to a significant reduction of around 0.4% in CO2 emissions per …
Persistent link: https://www.econbiz.de/10014514891
Persistent link: https://www.econbiz.de/10011403602
world where carbon pricing is imperfect and the regulator seeks to limit emissions to a (cumulative) target. We use a global …, we show that small deviations from the second-best subsidy can lead to strong increases in emissions and consumption …
Persistent link: https://www.econbiz.de/10009231826
hourly production and emissions, and 3) a state-of-the-art air pollution model. The current subsidies lead to severe spatial …
Persistent link: https://www.econbiz.de/10014348184