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Combinaison des instruments prix et quantités dans le cas de l'effet de serre

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  • Boris Cournède
  • Sylviane Gastaldo

Abstract

Under uncertainty regarding marginal abatement costs, a market for pollution rights is not efficient in dealing with cost risks. The paper presents a hybrid instrument in which the market price is bounded by a floor price via a subsidy and a cap price via a tax. The optimal instrument is computed in an analytical case study. In light of arguments against subsidies, an asymmetric instrument with a tax cap and no price floor is introduced and the optimum is determined. Hybrid and asymmetric instruments are seen to be particularly appropriate to the specific nature of climate change. Other possible combinations of taxes and permits are also examined.

Suggested Citation

  • Boris Cournède & Sylviane Gastaldo, 2002. "Combinaison des instruments prix et quantités dans le cas de l'effet de serre," Economie & Prévision, La Documentation Française, vol. 156(5), pages 51-62.
    • Handle: RePEc:cai:ecoldc:ecop_156_0051
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    References listed on IDEAS

    as
    1. Baumol,William J. & Oates,Wallace E., 1988. "The Theory of Environmental Policy," Cambridge Books, Cambridge University Press, number 9780521322249.
    2. Pizer, William, 1997. "Prices vs. Quantities Revisited: The Case of Climate Change," RFF Working Paper Series dp-98-02, Resources for the Future.
    3. Roberts, Marc J. & Spence, Michael, 1976. "Effluent charges and licenses under uncertainty," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 193-208.
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