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Second-Best Climate Agreements and Technology Policy
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Rolf Golombek
Veröffentlicht/Copyright:
27. Januar 2006
Abstract
We study second-best climate agreements in the presence of technology spillovers within and across countries, where the technology externalities within each country are corrected through a domestic subsidy of R&D investments. We compare the properties of two types of international climate agreements when the inter-country externalities from R&D are not regulated through the climate agreement. With an international agreement on emission quotas, the equilibrium R&D subsidy is lower than the socially optimal subsidy. The equilibrium subsidy is even lower if the climate agreement instead dictates that a common carbon tax should be imposed in all countries. Under a quota agreement, total quotas should be set low enough for the price of carbon to exceed the Pigovian level, whereas the opposite may be true under a tax agreement. We also show that social costs are higher under a second-best tax agreement than under a second-best quota agreement.
Published Online: 2006-1-27
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Schlagwörter für diesen Artikel
climate policy;
international climate agreements;
R&D Policy;
technology spillovers
Artikel in diesem Heft
- Advances Article
- Second-Best Climate Agreements and Technology Policy
- An Economic Response to Unsolicited Communication
- Does the Open Economy Assumption Really Mean That Labor Bears the Burden of a Capital Income Tax?
- Auction Bids and Shopping Choices
- Prescription Drug Advertising and Patient Compliance: A Physician Agency Approach
- The Impact of Midwifery-Promoting Public Policies on Medical Interventions and Health Outcomes
- A Simple Model of Entry That Increases Price Levels and Price Dispersion
- Do Teachers Really Leave for Higher Paying Jobs in Alternative Occupations?
- The Impact of Driver Cell Phone Use on Accidents
- Topics Article
- The Marginal Cost of Funds from Public Sector Borrowing
- Did the 9/11 Victim Compensation Fund Accurately Assess Economic Losses?
- The Firm's Cost of Capital, Its Effective Marginal Tax Rate, and the Value of the Government's Tax Claim
- Do Plants Overcomply with Water Pollution Regulations? The Role of Discharge Variability
- The Impact of Delivery Synergies on Bidding in the Georgia School Milk Market
- Credit Constraints and Contract Enforcement
- The Disadvantages of Aggregate Deductibles
- What Did the "Illegitimacy Bonus" Reward?
- Does Integrating Economic and Biological Systems Matter for Public Policy? The Case of Yellowstone Lake
- Academic Performance and Part-Time Employment among High School Seniors
- Designing Auctions in R&D: Optimal Licensing of an Innovation
- Capital Movements and the Political Economy of Trade Policy
- Increasing Returns, Input-Output Linkages, and Technological Leapfrogging
- Searching For Better Prospects: Endogenizing Falling Job Tenure and Private Pension Coverage
- The Relationship between Beer Taxes, Other Alcohol Policies, and Child Homicide Deaths
- Consumption Mobility in the United States: Evidence from Two Panel Data Sets
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