Arbeitspapier
Prices vs. quantities and the intertemporal dynamics of the climate rent
This paper provides a formal survey of price and quantity instruments for mitigating global warming. We explicitly consider policies' impact on the incentives of resource owners who maximize their profits intertemporally. We focus on the informational and commitment requirements of the regulator. Furthermore, we study the interplay between (private) resource extraction rent and (public) climate rent and ask how property and management of the climate rent can be assigned between regulator and resource sector. There are only two instruments that unburden the regulator from the complex intertemporal management of the climate rent and associated commitment problems: in the cost-benefit world, we derive a stock-dependent tax rule; in the cost-effective (carbon budget) world, only an emissions trading scheme with free banking and borrowing can shift intertemporal timing decisions completely to the market.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 3044
- Klassifikation
-
Wirtschaft
Exhaustible Resources and Economic Development
Nonrenewable Resources and Conservation: Government Policy
Climate; Natural Disasters and Their Management; Global Warming
Environmental Economics: Government Policy
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- Thema
-
resource extraction
climate rent
intertemporal policy instruments
prices vs. quantities
Hotelling
Klimaschutz
Policy-Mix
Rohstoffwirtschaft
Hotelling-Regel
Rententheorie
Wohlfahrtseffekt
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kalkuhl, Matthias
Edenhofer, Ottmar
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.12.2024, 22:20 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kalkuhl, Matthias
- Edenhofer, Ottmar
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2010
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