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Dynamic Games of Environmental Policy in a Global Economy: Taxes versus Quotas

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  • Akihiko Yanase

Abstract

The effects of environmental policy on the global environment as an international public good with a stock externality and national welfare are examined in a model with trade in a polluting commodity. The welfare effects of environmental policy, decomposed into terms of trade, abatement cost, and environmental damage effects, induce governments to adopt a strategic use of their policy measures. In the absence of international cooperation on environmental policy, it is demonstrated that the emission tax game brings about larger strategic distortions than the emission quota game.

Suggested Citation

  • Akihiko Yanase, 2007. "Dynamic Games of Environmental Policy in a Global Economy: Taxes versus Quotas," Review of International Economics, Wiley Blackwell, vol. 15(3), pages 592-611, August.
  • Handle: RePEc:bla:reviec:v:15:y:2007:i:3:p:592-611
    DOI: 10.1111/j.1467-9396.2007.00690.x
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    File URL: https://doi.org/10.1111/j.1467-9396.2007.00690.x
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    Cited by:

    1. Luca Lambertini & Arsen Palestini, 2018. "Voluntary Export Restraints in a Trade Model with Sticky Price: Linear and Nonlinear Feedback Solutions," Dynamic Games and Applications, Springer, vol. 8(3), pages 507-518, September.
    2. Calvo, Emilio & Rubio, Santiago J., 2013. "Dynamic Models of International Environmental Agreements: A Differential Game Approach," International Review of Environmental and Resource Economics, now publishers, vol. 6(4), pages 289-339, April.
    3. Harvey E. Lapan & Shiva Sikdar, 2011. "Strategic Environmental Policy under Free Trade with Transboundary Pollution," Review of Development Economics, Wiley Blackwell, vol. 15(1), pages 1-18, February.
    4. repec:bla:jpbect:v:19:y:2017:i:2:p:267-288 is not listed on IDEAS
    5. Akihiko Yanase, 2010. "Trade, Strategic Environmental Policy, and Global Pollution," Review of International Economics, Wiley Blackwell, vol. 18(3), pages 493-512, August.
    6. repec:gam:jsusta:v:10:y:2018:i:2:p:287-:d:128246 is not listed on IDEAS
    7. Harvey E. Lapan & Shiva Sikdar, 2017. "Can Trade Be Good for the Environment?," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 19(2), pages 267-288, April.

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