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Incomplete model specification in a multi-pollutants setting: The case of climate change and acidification

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  • Legras, Sophie

Abstract

This paper analyses the consequences of incomplete environmental model specification on policy design in a multi-pollutants framework. Focusing on the correlations between aerosols and greenhouse gases, the paper compares abatement and stock targets setting for various cases of incomplete model specification. Both cases of lax and stringent regulation, compared to what is socially optimum, may arise. Furthermore, the lax/stringent nature of the policies may evolve over time, so that the time horizon of policy design matters in assessing the impact of incomplete model specification.

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  • Legras, Sophie, 2011. "Incomplete model specification in a multi-pollutants setting: The case of climate change and acidification," Resource and Energy Economics, Elsevier, vol. 33(3), pages 527-543, September.
  • Handle: RePEc:eee:resene:v:33:y:2011:i:3:p:527-543
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    References listed on IDEAS

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    1. Moslener, Ulf & Requate, Till, 2009. "The dynamics of optimal abatement strategies for multiple pollutants--An illustration in the Greenhouse," Ecological Economics, Elsevier, vol. 68(5), pages 1521-1534, March.
    2. H. Aaheim, 1999. "Climate Policy with Multiple Sources and Sinks of Greenhouse Gases," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 14(3), pages 413-430, October.
    3. Caplan, Arthur J. & Silva, Emilson C.D., 2005. "An efficient mechanism to control correlated externalities: redistributive transfers and the coexistence of regional and global pollution permit markets," Journal of Environmental Economics and Management, Elsevier, vol. 49(1), pages 68-82, January.
    4. Baumgärtner, Stefan & Jöst, Frank & Winkler, Ralph, 2009. "Optimal dynamic scale and structure of a multi-pollution economy," Ecological Economics, Elsevier, vol. 68(4), pages 1226-1238, February.
    5. Moslener, Ulf & Requate, Till, 2007. "Optimal abatement in dynamic multi-pollutant problems when pollutants can be complements or substitutes," Journal of Economic Dynamics and Control, Elsevier, vol. 31(7), pages 2293-2316, July.
    6. Scott Barrett, 2008. "The Incredible Economics of Geoengineering," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 39(1), pages 45-54, January.
    7. Yang, Zili, 2006. "Negatively correlated local and global stock externalities: tax or subsidy?," Environment and Development Economics, Cambridge University Press, vol. 11(03), pages 301-316, June.
    8. Erik Schmieman & Ekko van Ierland & Leen Hordijk, 2002. "Dynamic Efficiency with Multi-Pollutants and Multi-Targets The Case of Acidification and Tropospheric Ozone Formation in Europe," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 23(2), pages 133-148, October.
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    Cited by:

    1. Ambec, Stefan & Coria, Jessica, 2018. "Policy spillovers in the regulation of multiple pollutants," Journal of Environmental Economics and Management, Elsevier, vol. 87(C), pages 114-134.
    2. Regnier Camille & Sophie Legras, 2014. "Urban Structure and Environmental Externalities," INRA UMR CESAER Working Papers 2014/2, INRA UMR CESAER, Centre d'’Economie et Sociologie appliquées à l'’Agriculture et aux Espaces Ruraux.

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