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Optimal environmental taxes and standards: Implications of the materials balance

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  • Ebert, Udo
  • Welsch, Heinz

Abstract

This paper investigates the implications of the materials balance for optimal environmental policy. We find that neglecting the materials–emissions relationship – as is common in models of optimal environmental regulation – implies biases, whose sign depends on the regulatory instrument chosen. When emissions are regulated through an emission tax, the seemingly optimal tax is too high. When regulation proceeds through the use of an emission standard, the seemingly optimal standard is too lax.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 70 (2011)
Issue (Month): 12 ()
Pages: 2454-2460

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Handle: RePEc:eee:ecolec:v:70:y:2011:i:12:p:2454-2460

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Web page: http://www.elsevier.com/locate/ecolecon

Related research

Keywords: Environmental regulation; Emission tax; Emission standard; Materials balance;

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Cited by:
  1. Anderson, Blake & M'Gonigle, Michael, 2012. "Does ecological economics have a future?," Ecological Economics, Elsevier, vol. 84(C), pages 37-48.

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