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Optimal mix of emissions taxes and cap-and-trade
Swedish National Road and Transport Research Institute, Society, environment and transport, Transport economics Stockholm.
2008 (English)In: Journal of Environmental Economics and Management, ISSN 0095-0696, E-ISSN 1096-0449, Vol. 56, no 2, 131-140 p.Article in journal (Refereed) Published
Abstract [en]

In practice, different emitters of a particular pollutant are sometimes subjected to different control mechanisms. This paper focuses on the situation where a part of the economy is regulated by a cap-and-trade program, while the rest is subjected to an emissions tax. Using an extended version of Weitzman's 'Prices vs. Quantities' model [M.L. Weitzman, Prices vs. quantities, Revi. Econ. Stud. 41 (1974) 477-491], we analyze the conditions under which this is superior, from an efficiency point of view, to subjecting the whole economy to either of these control mechanisms. The paper addresses a crucial trade-off between two sources of efficiency loss, one due to cost-effectiveness issues and another due to emissions volume. This trade-off determines the optimal size of each sector. It is shown that the size of the taxed sector, at an optimum, increases with the relative steepness of the aggregate marginal abatement cost function

Place, publisher, year, edition, pages
Elsevier, 2008. Vol. 56, no 2, 131-140 p.
Keyword [en]
Emission, Emission control, Trade, Price, Carbon dioxide, Greenhouse effect
National Category
Economics
Research subject
Road: General works, surveys, comprehensive works, Road: Economics; Road: Transport, society, policy and planning, Road: Environment
Identifiers
URN: urn:nbn:se:vti:diva-357DOI: 10.1016/j.jeem.2007.12.004ISI: 000259714500003OAI: oai:DiVA.org:vti-357DiVA: diva2:667019
Available from: 2013-11-25 Created: 2013-11-25 Last updated: 2014-08-28Bibliographically approved

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Transport economics Stockholm
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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf