Climate policy enhances efficiency: a macroeconomic portfolio effect
Gespeichert in:
| Beteiligte Personen: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
München
CESifo
2015
|
| Schriftenreihe: | CESifo working paper
5161 : Category 9, Resources and environment |
| Links: | https://www.cesifo.org/DocDL/cesifo1_wp5161.pdf |
| Umfang: | 1 Online-Ressource (37 S.) graph. Darst. |
| Format: | . - Acrobat Reader |
Internformat
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| 490 | 1 | |a CESifo working paper |v 5161 : Category 9, Resources and environment | |
| 520 | 1 | |a Carbon pricing regulates emission flows and collects rents from underlying fossil resource stocks. The resulting investment shift implies lower climate policy costs and improved welfare if capital is underaccumulated. We prove that under emission trading, such a beneficial macroeconomic portfolio effect between fossil stocks and capital is induced if some permits are auctioned. Alternatively, a carbon tax also induces a portfolio effect, but cannot simultaneously implement a given mitigation path and collect an arbitrary rent share. Finally, treating the right to recurrently receive a share of total emission permits as a tradable asset is formally, but not politically equivalent. | |
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Datensatz im Suchindex
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| author | Siegmeier, Jan Mattauch, Linus Edenhofer, Ottmar 1961- |
| author_GND | (DE-588)129479764 |
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| id | DE-604.BV042898273 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T17:22:42Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-028326543 |
| oclc_num | 927240804 |
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| owner_facet | DE-521 DE-29 |
| physical | 1 Online-Ressource (37 S.) graph. Darst. |
| psigel | ebook |
| publishDate | 2015 |
| publishDateSearch | 2015 |
| publishDateSort | 2015 |
| publisher | CESifo |
| record_format | marc |
| series | CESifo working paper |
| series2 | CESifo working paper |
| spelling | Siegmeier, Jan Verfasser aut Climate policy enhances efficiency a macroeconomic portfolio effect Jan Siegmeier ; Linus Mattauch ; Ottmar Edenhofer München CESifo 2015 1 Online-Ressource (37 S.) graph. Darst. txt rdacontent c rdamedia cr rdacarrier CESifo working paper 5161 : Category 9, Resources and environment Carbon pricing regulates emission flows and collects rents from underlying fossil resource stocks. The resulting investment shift implies lower climate policy costs and improved welfare if capital is underaccumulated. We prove that under emission trading, such a beneficial macroeconomic portfolio effect between fossil stocks and capital is induced if some permits are auctioned. Alternatively, a carbon tax also induces a portfolio effect, but cannot simultaneously implement a given mitigation path and collect an arbitrary rent share. Finally, treating the right to recurrently receive a share of total emission permits as a tradable asset is formally, but not politically equivalent. . - Acrobat Reader Mattauch, Linus Verfasser aut Edenhofer, Ottmar 1961- Verfasser (DE-588)129479764 aut CESifo working paper 5161 : Category 9, Resources and environment (DE-604)BV014083264 5161 https://www.cesifo.org/DocDL/cesifo1_wp5161.pdf Verlag kostenfrei Volltext |
| spellingShingle | Siegmeier, Jan Mattauch, Linus Edenhofer, Ottmar 1961- Climate policy enhances efficiency a macroeconomic portfolio effect CESifo working paper |
| title | Climate policy enhances efficiency a macroeconomic portfolio effect |
| title_auth | Climate policy enhances efficiency a macroeconomic portfolio effect |
| title_exact_search | Climate policy enhances efficiency a macroeconomic portfolio effect |
| title_full | Climate policy enhances efficiency a macroeconomic portfolio effect Jan Siegmeier ; Linus Mattauch ; Ottmar Edenhofer |
| title_fullStr | Climate policy enhances efficiency a macroeconomic portfolio effect Jan Siegmeier ; Linus Mattauch ; Ottmar Edenhofer |
| title_full_unstemmed | Climate policy enhances efficiency a macroeconomic portfolio effect Jan Siegmeier ; Linus Mattauch ; Ottmar Edenhofer |
| title_short | Climate policy enhances efficiency |
| title_sort | climate policy enhances efficiency a macroeconomic portfolio effect |
| title_sub | a macroeconomic portfolio effect |
| url | https://www.cesifo.org/DocDL/cesifo1_wp5161.pdf |
| volume_link | (DE-604)BV014083264 |
| work_keys_str_mv | AT siegmeierjan climatepolicyenhancesefficiencyamacroeconomicportfolioeffect AT mattauchlinus climatepolicyenhancesefficiencyamacroeconomicportfolioeffect AT edenhoferottmar climatepolicyenhancesefficiencyamacroeconomicportfolioeffect |