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Price and quantity regulation in general equilibrium

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  • Kelly, David L.

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  • Kelly, David L., 2005. "Price and quantity regulation in general equilibrium," Journal of Economic Theory, Elsevier, vol. 125(1), pages 36-60, November.
  • Handle: RePEc:eee:jetheo:v:125:y:2005:i:1:p:36-60
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    References listed on IDEAS

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    1. Gary W. Yohe, 1978. "Towards a General Comparison of Price Controls and Quantity Controls under Uncertainty," Review of Economic Studies, Oxford University Press, vol. 45(2), pages 229-238.
    2. Kolstad, Charles D., 1996. "Learning and Stock Effects in Environmental Regulation: The Case of Greenhouse Gas Emissions," Journal of Environmental Economics and Management, Elsevier, vol. 31(1), pages 1-18, July.
    3. Martin L. Weitzman, 1974. "Prices vs. Quantities," Review of Economic Studies, Oxford University Press, vol. 41(4), pages 477-491.
    4. Brian R. Copeland & M. Scott Taylor, 2004. "Trade, Growth, and the Environment," Journal of Economic Literature, American Economic Association, vol. 42(1), pages 7-71, March.
    5. Hurd, Michael D, 1989. "Mortality Risk and Bequests," Econometrica, Econometric Society, vol. 57(4), pages 779-813, July.
    6. Evan F. Koenig, 1985. "Indirect Methods for Regulating Externalities Under Uncertainty," The Quarterly Journal of Economics, Oxford University Press, vol. 100(2), pages 479-493.
    7. Pizer, William A., 1999. "The optimal choice of climate change policy in the presence of uncertainty," Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 255-287, August.
    8. John, A & Pecchenino, R, 1994. "An Overlapping Generations Model of Growth and the Environment," Economic Journal, Royal Economic Society, vol. 104(427), pages 1393-1410, November.
    9. Yohe, Gary W., 1976. "Substitution and the control of pollution : A comparison of effluent charges and quantity standards under uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 3(4), pages 312-324, December.
    10. Hoel, Michael & Karp, Larry, 2002. "Taxes versus quotas for a stock pollutant," Resource and Energy Economics, Elsevier, vol. 24(4), pages 367-384, November.
    11. Pizer, William A., 2002. "Combining price and quantity controls to mitigate global climate change," Journal of Public Economics, Elsevier, vol. 85(3), pages 409-434, September.
    12. Weitzman, Martin L, 1978. "Optimal Rewards for Economic Regulation," American Economic Review, American Economic Association, vol. 68(4), pages 683-691, September.
    13. Hoel, Michael & Karp, Larry, 2001. "Taxes and quotas for a stock pollutant with multiplicative uncertainty," Journal of Public Economics, Elsevier, vol. 82(1), pages 91-114, October.
    14. Stokey, Nancy L, 1998. "Are There Limits to Growth?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(1), pages 1-31, February.
    15. Watson, William D. & Ridker, Ronald G., 1984. "Losses from effluent taxes and quotas under uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 11(4), pages 310-326, December.
    16. Stavins, Robert N., 1996. "Correlated Uncertainty and Policy Instrument Choice," Journal of Environmental Economics and Management, Elsevier, vol. 30(2), pages 218-232, March.
    17. Narayana R. Kocherlakota, 1996. "The Equity Premium: It's Still a Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 42-71, March.
    18. Yohe, Gary Wynn, 1977. "Comparisons of price and quantity controls: A survey," Journal of Comparative Economics, Elsevier, vol. 1(3), pages 213-233, September.
    19. Roberts, Marc J. & Spence, Michael, 1976. "Effluent charges and licenses under uncertainty," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 193-208.
    20. Newell, Richard G. & Pizer, William A., 2003. "Regulating stock externalities under uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 416-432, March.
    21. Charles D. Kolstad, 1986. "Empirical Properties of Economic Incentives and Command-and-Control Regulations for Air Pollution Control," Land Economics, University of Wisconsin Press, vol. 62(3), pages 250-268.
    22. Costello, Christopher & Karp, Larry, 2004. "Dynamic taxes and quotas with learning," Journal of Economic Dynamics and Control, Elsevier, vol. 28(8), pages 1661-1680, June.
    23. Jean Jacques Laffont, 1977. "More on Prices vs. Quantities," Review of Economic Studies, Oxford University Press, vol. 44(1), pages 177-182.
    24. Koenig, Evan F., 1984. "Controlling stock externalities in a common property fishery subject to uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 11(2), pages 124-138, June.
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    Cited by:

    1. Christian Traeger, 2014. "Why uncertainty matters: discounting under intertemporal risk aversion and ambiguity," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 56(3), pages 627-664, August.
    2. John Parsons & Luca Taschini, 2013. "The Role of Stocks and Shocks Concepts in the Debate Over Price Versus Quantity," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 55(1), pages 71-86, May.
    3. Garth Heutel, 2012. "How Should Environmental Policy Respond to Business Cycles? Optimal Policy under Persistent Productivity Shocks," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(2), pages 244-264, April.
    4. Zhe Li & Shouyong Shi, 2010. "Emission Tax or Standard? The Role of Productivity Dispersion," Working Papers tecipa-409, University of Toronto, Department of Economics.
    5. Ramezani, Fariba & Harvie, Charles & Arjomandi, Amir, 2016. "Australian Emissions Reduction Subsidy Policy under Persistent Productivity Shocks," 2016 Conference (60th), February 2-5, 2016, Canberra, Australia 235585, Australian Agricultural and Resource Economics Society.
    6. Christian Traeger, 2014. "A 4-Stated DICE: Quantitatively Addressing Uncertainty Effects in Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 59(1), pages 1-37, September.
    7. Dissou, Yazid & Karnizova, Lilia, 2016. "Emissions cap or emissions tax? A multi-sector business cycle analysis," Journal of Environmental Economics and Management, Elsevier, vol. 79(C), pages 169-188.
    8. Shouyong Shi & Zhe Li, 2010. "Emission Tax or Standard: The Roles of Productivity Dispersion and Abatement," 2010 Meeting Papers 587, Society for Economic Dynamics.
    9. Annicchiarico, Barbara & Di Dio, Fabio, 2015. "Environmental policy and macroeconomic dynamics in a new Keynesian model," Journal of Environmental Economics and Management, Elsevier, vol. 69(C), pages 1-21.
    10. Jensen, Svenn & Traeger, Christian P., 2014. "Optimal climate change mitigation under long-term growth uncertainty: Stochastic integrated assessment and analytic findings," European Economic Review, Elsevier, vol. 69(C), pages 104-125.
    11. Garth Heutel, 2012. "How Should Environmental Policy Respond to Business Cycles? Optimal Policy under Persistent Productivity Shocks," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(2), pages 244-264, April.
    12. Assoc. Prof. Marius Sorin Dincă Ph. D, Lecturer Gheorghița Dincă Ph. D, 2011. "Usingindexes Inthe Complex Analysis Of Sales Turnover," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 4(39), pages 193-202, May.
    13. Barbara Annicchiarico & Francesca Diluiso, 2017. "International Transmission of the Business Cycle and Environmental Policy," CEIS Research Paper 423, Tor Vergata University, CEIS, revised 19 Dec 2017.
    14. Lintunen, Jussi & Vilmi, Lauri, 2013. "On optimal emission control : Taxes, substitution and business cycles," Research Discussion Papers 24/2013, Bank of Finland.
    15. repec:kap:enreec:v:67:y:2017:i:4:d:10.1007_s10640-016-0007-5 is not listed on IDEAS
    16. Yuri Yatsenko, 2009. "Price vs. Quantity Regulation and Technological Modernization," International Journal of Business and Economics, College of Business and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 8(3), pages 255-258, December.

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