کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5101837 1479412 2017 17 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Combining price and quantity controls under partitioned environmental regulation
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Combining price and quantity controls under partitioned environmental regulation
چکیده انگلیسی
This paper analyzes hybrid emissions trading systems (ETSs)under partitioned environmental regulation when firms' abatement costs and future emissions are uncertain. We show that hybrid policies that introduce bounds on the price or the quantity of abatement provide a way to hedge against differences in marginal abatement costs across partitions. Price bounds are more efficient than abatement bounds as they also use information on firms' abatement technologies while abatement bounds can only address emission uncertainty. Using a numerical stochastic optimization model with equilibrium constraints for the European carbon market, we find that introducing hybrid policies in EU ETS reduces expected excess abatement costs of achieving targeted emission reductions under EU climate policy by up to 89%. We also find that under partitioned regulation there is a high likelihood for hybrid policies to yield sizeable ex-post cost reductions.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Public Economics - Volume 145, January 2017, Pages 226-242
نویسندگان
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