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| Pezzey, John C.V.. |
| We compare three different views on the long run efficiencies of emission taxes which include thresholds, and of tradable emission permits where some permits are initially free. The differences are caused by different assumptions about whether thresholds and free permits should be subsidies given only to firms that produce, or full property rights. Treating tax thresholds, as well as free permits, as property rights would depart from the conventional view, but would allow greater flexibility in making economic instruments both efficient and acceptable. Such flexibility could be very important in achieving efficent control of greenhouse gas emissions. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Economics and Policy; H23; Q28. |
| Ano: 2003 |
URL: http://purl.umn.edu/58198 |
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| Pezzey, John C.V.; Jotzo, Frank. |
| We give empirical welfare results for global greenhouse gas emission control, using the first multiparty model to combine tax-versus-trading under uncertainties with revenue recycling. Including multiple parties greatly reduces the welfare advantage of an emissions tax over emissions (permit) trading in handling abatement-cost uncertainties, from that shown by existing, single-party literature. But a tax has a different, much bigger advantage, from better handling uncertainties in business-as-usual emissions. Either mechanism's free emissions share, from tax thresholds or free permits, which lowers its possible welfare gain from revenue recycling, may however dominate any tax-versus-trading advantage. Moreover, political and practical constraints, such as... |
| Tipo: Journal Article |
Palavras-chave: Climate policy; Emission pricing; Tax vs. trading; Uncertainties; Revenue recycling; Political economy; Environmental Economics and Policy; D810; H230; Q580. |
| Ano: 2010 |
URL: http://purl.umn.edu/95049 |
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| Pezzey, John C.V.; Toman, Michael. |
| Concern about sustainability helped to launch a new agenda for development and environmental economics and challenged many of the fundamental goals and assumptions of the conventional, neoclassical economics of growth and development. We review 25 years' of refereed journal articles on the economics of sustainability, with emphasis on analyses that involve concern for intergenerational equity in the long-term decision-making of a society; recognition of the role of finite environmental resources in long-term decision-making; and recognizable, if perhaps unconventional, use of economic concepts, such as instantaneous utility, cost, or intertemporal welfare. Taken as a whole, the articles reviewed here indicate that several areas must be addressed in future... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Economic efficiency; Intergenerational equity; Social optimality; Sustainable development; Environmental Economics and Policy; Q20; D60; D90. |
| Ano: 2002 |
URL: http://purl.umn.edu/10683 |
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| Pezzey, John C.V.; Jotzo, Frank; Quiggin, John C.. |
| Effective climate policy requires global emissions of greenhouse gases to be cut substantially, which in energy sectors can be achieved by lower emissions supply technologies, greater energy use efficiency, and substitution in demand. For policy to be efficient requires fairly uniform, pervasive emission pricing from taxes, permit trading, or hybrid combinations of the two, as well as significant government support for low-emission technologies. We compare the kind of technology-focused climate policies currently adopted by Australia and the USA, the 'Asia-Pacific Partnership on Clean Development and Climate' (AP6), against this ideal policy yardstick. We find they omit the need for emission pricing to achieve abatement effectively and efficiently; they... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Greenhouse gas emissions; Abatement; Emission taxes; Emissions trading; Technology policy; Innovation; Asia-Pacific Partnership; AP6; Environmental Economics and Policy. |
| Ano: 2007 |
URL: http://purl.umn.edu/10395 |
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