IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Equivalence entre taxation et permis d'émission échangeables

  • Pierre Villa
Registered author(s):

    The paper deals with the equivalence between taxation and emission permits according to different viewpoints: the first one sets prices, the second one quantities. But equivalence is more formal than substantial: taxation is the generating fact, the market of permits does not exist spontaneously. Its price is unstable because supply is not independent from demand. It is manipulatable either ex ante when free allowances are allocated or ex post during the period of compliance through Walrasian tatonnement. A real economic determination of prices exists only when there are unit taxes or penalties on emissions exceeding the quotas. In order to avoid these drawbacks, pay-as-bid auctions must be used and free allowances avoided. Taxation or the price of emission permits are the real option value of changing techniques. An assignment rule is proposed : taxes are assigned to reduce average emissions and permits to reduce marginal emissions. In order to transform the cost into a real change of techniques, it is necessary to finance the sector of research and development of an amount greater than the taxes levied on pollution, which serve at paying the rent of innovation. These extra subsidies are used to move factors of production as capital from industry towards the innovation sector. The tax equivalence is ternary and concerns the taxes on pollution, capital and energy, because extracting fossil fuels is similar as innovation. Decentralization through market schemes induces that depollution has a marketable cost.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.cepii.fr/PDF_PUB/wp/2009/wp2009-05.pdf
    Download Restriction: no

    Paper provided by CEPII research center in its series Working Papers with number 2009-05.

    as
    in new window

    Length:
    Date of creation: Mar 2009
    Date of revision:
    Handle: RePEc:cii:cepidt:2009-05
    Contact details of provider: Postal: 113, rue de Grenelle, 75700 Paris SP07
    Phone: 33 01 53 68 55 00
    Fax: 33 01 53 68 55 01
    Web page: http://www.cepii.fr

    More information through EDIRC

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Schleich, Joachim & Ehrhart, Karl-Martin & Hoppe, Christian & Seifert, Stefan, 2004. "Banning banking in EU emissions trading?," Sonderforschungsbereich 504 Publications 04-60, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    2. Nordhaus, William D, 1991. "A Sketch of the Economics of the Greenhouse Effect," American Economic Review, American Economic Association, vol. 81(2), pages 146-50, May.
    3. Philippe Quirion, 2007. "Comment faut-il distribuer les quotas échangeables de gaz à effet de serre ?," Post-Print hal-00639723, HAL.
    4. repec:mop:credwp:04.10.51 is not listed on IDEAS
    5. Eloi Laurent & Jacques Le Cacheux, 2007. "'Grenelle de l'environnement ' : peut-on se passer d'une nouvelle fiscalité écologique ?," Sciences Po publications info:hdl:2441/2101, Sciences Po.
    6. Cropper, Maureen L & Oates, Wallace E, 1992. "Environmental Economics: A Survey," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 675-740, June.
    7. Alain Bernard & Marc Vielle & Laurent Viguier, 2005. "Premières simulations de la directive européenne sur les quotas d'émission avec le modèle GEMINI-E3," Économie et Prévision, Programme National Persée, vol. 169(3), pages 171-196.
    8. repec:cup:cbooks:9780521023894 is not listed on IDEAS
    9. Pierre Villa & Henri Sterdyniak, 1986. "Des conséquences conjoncturelles de la régulation monétaire," Revue Économique, Programme National Persée, vol. 37(6), pages 963-998.
    10. Sophie Chauvin & Pierre Villa, 2003. "Le Currency Board à travers l'expérience de l'Argentine," Working Papers 2003-07, CEPII research center.
    11. Coase, R H, 1974. "The Lighthouse in Economics," Journal of Law and Economics, University of Chicago Press, vol. 17(2), pages 357-76, October.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:cii:cepidt:2009-05. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.