Das grüne Paradoxon: Warum man das Angebot bei der Klimapolitik nicht vergessen darf
AbstractDespite its efforts and obligations under the Kyoto Protocol, the EU has not succeeded in even making a dent in the rapidly rising trend of worldwide carbon dioxide emissions. If anything, the trend has accelerated in recent years. In his Thünen Lecture given to the Verein für Socialpolitik in October 2007, the author criticizes the attempt to slow down global warming by means of unilaterally curtailing the demand for fossil fuels and develops an intertemporal supply side approach to the economics of global warming. He advances the hypothesis that the ineffectiveness of demand policies results from anticipation effects on the part of the owners of fossil fuel resources. In addition to the threat of potential ousting by domestic rivals, the threat of falling energy prices (against a modified Hotelling trend) due to greening public policies and increasing participation in worldwide emissions trading systems gives resource owners the incentive to speed up extraction. Feasible policy measures that do not encounter such problematic anticipation effects include the rapid creation of a complete worldwide monopsony for fossil fuels that can dictate quantities rather than having to rely on price signals. Moreover, source taxes on the financial returns of resource owners will provide additional conservation motives; technical measures including afforestation and sequestration may also be a way to reduce the speed of global warming. Copyright 2008 der Autor Journal compilation 2008, Verein für Socialpolitik und Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Verein für Socialpolitik in its journal Perspektiven der Wirtschaftspolitik.
Volume (Year): 9 (2008)
Issue (Month): s1 (05)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1465-6493
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Other versions of this item:
- Hans-Werner Sinn, 2008. "Das grüne Paradoxon: Warum man das Angebot bei der Klimapolitik nicht vergessen darf," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(3), pages 109-142, 08.
- Hans-Werner Sinn, 2008. "Das grüne Paradoxon: Warum man das Angebot bei der Klimapolitik nicht vergessen darf," Ifo Working Paper Series Ifo Working Paper No. 54, Ifo Institute for Economic Research at the University of Munich.
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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