Carbon Pricing as an Effective Instrument of Climate Policy: Searching for an Optimal Policy Instrument
AbstractThe paper highlights the use of carbon pricing as an effective market tool to control GHG emissions It describes the discussion on the benefits and limitations of both carbon tax and carbon trading. The paper summarises this debate and it argues that, as well as economic effectiveness, many other factors are highly relevant when choosing the right policy instrument. These include political feasibility, impact on competitiveness, institutional requirements, incentives for R&D and many others. Finally, interesting lessons are drawn for policy makers and academics willing to develop such instruments.
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 99 (2009)
Issue (Month): 3 (JULY-SEPTEMBER 2009)
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carbon taxes; cap and trade;
Find related papers by JEL classification:
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
- H00 - Public Economics - - General - - - General
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- M. Gallastegui & M. González-Eguino & I. Galarraga, 2012. "Cost effectiveness of a combination of instruments for global warming: a quantitative approach for Spain," SERIEs, Spanish Economic Association, vol. 3(1), pages 111-132, March.
- Ibon Galarraga & Luis M. Abadie & Alberto Ansuategi, 2013. "Economic Efficiency, Environmental Effectiveness and Political Feasibility of Energy Efficiency Rebates: The Case of the Spanish Energy Efficiency Renove Plan," Working Papers 2013-05, BC3.
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