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The optimal choice of climate change policy in the presence of uncertainty

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Cited by:

  1. Pizer, William A. & Kopp, Raymond, 2005. "Calculating the Costs of Environmental Regulation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 3, chapter 25, pages 1307-1351, Elsevier.
  2. Elisabetta Cornago & Renaud Foucart, 2014. "Instrument Choice and Cost Uncertainty in the Electricity Market," Working Papers ECARES ECARES 2014-13, ULB -- Universite Libre de Bruxelles.
  3. Yu, Jongmin & Mallory, Mindy L., 2015. "An optimal hybrid emission control system in a multiple compliance period model," Resource and Energy Economics, Elsevier, vol. 39(C), pages 16-28.
  4. John Stranlund, 2015. "A Note on Correlated Uncertainty and Hybrid Environmental Policies," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(4), pages 463-476, August.
  5. Reinhard Madlener & Ilja Neustadt, 2010. "Renewable energy policy in the presence of innovation: does government pre-commitment matter?," SOI - Working Papers 1010, Socioeconomic Institute - University of Zurich.
  6. Madlener, Reinhard & Neustadt, Ilja & Zweifel, Peter, 2008. "Promoting Renewable Electricity Generation in Imperfect Markets: Price vs. Quantity Policies," FCN Working Papers 1/2008, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN), revised Nov 2011.
  7. Kenneth Gillingham & William D. Nordhaus & David Anthoff & Geoffrey Blanford & Valentina Bosetti & Peter Christensen & Haewon McJeon & John Reilly & Paul Sztorc, 2015. "Modeling Uncertainty in Climate Change: A Multi-Model Comparison," NBER Working Papers 21637, National Bureau of Economic Research, Inc.
  8. Carolyn Fischer & Garth Heutel, 2013. "Environmental Macroeconomics: Environmental Policy, Business Cycles, and Directed Technical Change," Annual Review of Resource Economics, Annual Reviews, vol. 5(1), pages 197-210, June.
  9. 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.
  10. Jin, Wei & Zhang, ZhongXiang, 2016. "On the mechanism of international technology diffusion for energy technological progress," Resource and Energy Economics, Elsevier, vol. 46(C), pages 39-61.
  11. Wang, Zheng & Li, Hua-Qun & Wu, Jing & Gong, Yi & Zhang, Huan-Bo & Zhao, Chen, 2010. "Policy modeling on the GDP spillovers of carbon abatement policies between China and the United States," Economic Modelling, Elsevier, vol. 27(1), pages 40-45, January.
  12. Xiang-Yu Wang & Bao-Jun Tang, 2018. "Review of comparative studies on market mechanisms for carbon emission reduction: a bibliometric analysis," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 94(3), pages 1141-1162, December.
  13. Akira Maeda, 2012. "Setting trigger price in emissions permit markets equipped with a safety valve mechanism," Journal of Regulatory Economics, Springer, vol. 41(3), pages 358-379, June.
  14. Kelly, David L., 2005. "Price and quantity regulation in general equilibrium," Journal of Economic Theory, Elsevier, vol. 125(1), pages 36-60, November.
  15. MOROTOMI Toru, 2004. "Climate Change Policy and Combination of Multiple Policy Instruments (in Japanese)," ESRI Discussion paper series 111, Economic and Social Research Institute (ESRI).
  16. Karp, Larry S. & Zhang, Jiangfeng, 2002. "Controlling a Stock Pollutant with Endogenous Abatement Capital and Asymmetric Information," CUDARE Working Papers 25071, University of California, Berkeley, Department of Agricultural and Resource Economics.
  17. Shogren, Jason F. & Toman, Michael, 2000. "Climate Change Policy," Discussion Papers 10767, Resources for the Future.
  18. Roger Cooke, 2013. "Uncertainty analysis comes to integrated assessment models for climate change…and conversely," Climatic Change, Springer, vol. 117(3), pages 467-479, April.
  19. Klaus Keller & Louise I. Miltich & Alexander Robinson & Richard S.J. Tol, 2007. "How overconfident are current projections of anthropogenic carbon dioxide emissions?," Working Papers FNU-124, Research unit Sustainability and Global Change, Hamburg University, revised Jan 2007.
  20. Leach, Andrew J., 2007. "The climate change learning curve," Journal of Economic Dynamics and Control, Elsevier, vol. 31(5), pages 1728-1752, May.
  21. Simon Dietz & David Maddison, 2009. "New Frontiers in the Economics of Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 43(3), pages 295-306, July.
  22. Mayor, Karen & Tol, Richard S.J., 2007. "The impact of the UK aviation tax on carbon dioxide emissions and visitor numbers," Transport Policy, Elsevier, vol. 14(6), pages 507-513, November.
  23. Gillingham, Kenneth & Newell, Richard G. & Pizer, William A., 2008. "Modeling endogenous technological change for climate policy analysis," Energy Economics, Elsevier, vol. 30(6), pages 2734-2753, November.
  24. Richard S.J. Tol, 2018. "Energy and Climate," Working Paper Series 1618, Department of Economics, University of Sussex Business School.
  25. Ian W.H. Parry & Michael Toman, 2002. "Early Emission Reduction Programs: An Application to CO2 Policy," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 73-95.
  26. Tol, Richard S. J., 2007. "Irish Climate Change Policy for 2012: An Assessment," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 2007(4-Winter), pages 104-117.
  27. Stavins, Robert & Barrett, Scott & Aldy, Joseph, 2003. "13 + 1: A Comparison of Global Climate Change Policy Architectures," RFF Working Paper Series dp-03-26, Resources for the Future.
  28. Lehmann, Paul, 2008. "Using a Policy Mix for Pollution Control – A Review of Economic Literature," MPRA Paper 21354, University Library of Munich, Germany.
  29. De Bruin, Kelly & Kiran Krishnamurthy, Chandra, 2021. "Optimal Climate Policy with Fat-tailed Uncertainty: What the Models Can Tell Us," Papers WP697, Economic and Social Research Institute (ESRI).
  30. W. J. Wouter Botzen & Jeroen C. J. M. Van Den Bergh & Graciela Chichilnisky, 2018. "Climate Policy Without Intertemporal Dictatorship: Chichilnisky Criterion Versus Classical Utilitarianism In Dice," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 1-17, May.
  31. Madlener, Reinhard & Neustadt, Ilja, 2018. "Renewable energy price-control policy in the presence of innovation: is government pre-commitment preferable?," MPRA Paper 91546, University Library of Munich, Germany, revised 19 Jan 2019.
  32. Newell, Richard G. & Pizer, William A., 2003. "Discounting the distant future: how much do uncertain rates increase valuations?," Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 52-71, July.
  33. Lint Barrage, 2019. "The Nobel Memorial Prize for William D. Nordhaus," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(3), pages 884-924, July.
  34. Baker, Erin & Adu-Bonnah, Kwame, 2008. "Investment in risky R&D programs in the face of climate uncertainty," Energy Economics, Elsevier, vol. 30(2), pages 465-486, March.
  35. Martin Zapf & Hermann Pengg & Christian Weindl, 2019. "How to Comply with the Paris Agreement Temperature Goal: Global Carbon Pricing According to Carbon Budgets," Energies, MDPI, vol. 12(15), pages 1-20, August.
  36. Valentijn Stienen & Jacob Engwerda, 2020. "Measuring Impact of Uncertainty in a Stylized Macroeconomic Climate Model within a Dynamic Game Perspective," Energies, MDPI, vol. 13(2), pages 1-39, January.
  37. Anna Grodecka & Karlygash Kuralbayeva, 2014. "The Price vs Quantity debate: climate policy and the role of business cycles," OxCarre Working Papers 137, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  38. Toman, Michael A. & Withagen, Cees, 2000. "Accumulative pollution, "clean technology," and policy design," Resource and Energy Economics, Elsevier, vol. 22(4), pages 367-384, October.
  39. Frédéric Branger & Oskar Lecuyer & Philippe Quirion, 2013. "The European Union Emissions Trading System : should we throw the flagship out with the bathwater ?," Working Papers hal-00866408, HAL.
  40. Hanley Nick & MacKenzie Ian A, 2010. "The Effects of Rent Seeking over Tradable Pollution Permits," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-26, July.
  41. Mikhail Golosov & John Hassler & Per Krusell & Aleh Tsyvinski, 2014. "Optimal Taxes on Fossil Fuel in General Equilibrium," Econometrica, Econometric Society, vol. 82(1), pages 41-88, January.
  42. Karp, Larry S. & Zhang, Jiangfeng, 2001. "Bayesian Learning and the Regulation of Greenhouse Gas Emissions," CUDARE Working Papers 6214, University of California, Berkeley, Department of Agricultural and Resource Economics.
  43. Konstantinos Angelopoulos & George Economides & Apostolis Philippopoulos, 2010. "What is the best environmental policy?Taxes, permits and rules under economic and environmental uncertainty," Working Papers 119, Bank of Greece.
  44. Wouter Botzen, W.J. & van den Bergh, Jeroen C.J.M., 2012. "How sensitive is Nordhaus to Weitzman? Climate policy in DICE with an alternative damage function," Economics Letters, Elsevier, vol. 117(1), pages 372-374.
  45. Wu, Jie & Fan, Ying & Timilsina, Govinda & Xia, Yan, 2022. "Exploiting Complementarity of Carbon Pricing Instruments for Low-Carbon Development in the People’s Republic of China," ADBI Working Papers 1329, Asian Development Bank Institute.
  46. Vossler, Christian A. & Suter, Jordan F. & Poe, Gregory L., 2013. "Experimental evidence on dynamic pollution tax policies," Journal of Economic Behavior & Organization, Elsevier, vol. 93(C), pages 101-115.
  47. Böhringer, Christoph, 2003. "The Kyoto Protocol: A Review and Perspectives," ZEW Discussion Papers 03-61, ZEW - Leibniz Centre for European Economic Research.
  48. Jaume Rosselló Nadal, 2009. "The impact of the NAO index on European Airline Transit," CRE Working Papers (Documents de treball del CRE) 2009/5, Centre de Recerca Econòmica (UIB ·"Sa Nostra").
  49. Barrett, Alan & Kearney, Ide & O'Brien, Martin, 2007. "Quarterly Economic Commentary, Winter 2007," Forecasting Report, Economic and Social Research Institute (ESRI), number QEC20074, June.
  50. Tol, Richard S.J., 2017. "The structure of the climate debate," Energy Policy, Elsevier, vol. 104(C), pages 431-438.
  51. Wirl, Franz, 2012. "Global warming: Prices versus quantities from a strategic point of view," Journal of Environmental Economics and Management, Elsevier, vol. 64(2), pages 217-229.
  52. Nordhaus, William, 2013. "Integrated Economic and Climate Modeling," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 1069-1131, Elsevier.
  53. Kolstad, Charles D. & Toman, Michael, 2005. "The Economics of Climate Policy," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 3, chapter 30, pages 1561-1618, Elsevier.
  54. Peterson, Sonja, 2006. "Uncertainty and economic analysis of climate change: a survey of approaches and findings," Open Access Publications from Kiel Institute for the World Economy 3778, Kiel Institute for the World Economy (IfW Kiel).
  55. Annicchiarico, Barbara & Diluiso, Francesca, 2019. "International transmission of the business cycle and environmental policy," Resource and Energy Economics, Elsevier, vol. 58(C).
  56. van den Bergh, Jeroen C. J. M., 2004. "Optimal climate policy is a utopia: from quantitative to qualitative cost-benefit analysis," Ecological Economics, Elsevier, vol. 48(4), pages 385-393, April.
  57. Thomas Conefrey & John D. Fitz Gerald & Laura Malaguzzi Valeri & Richard S.J. Tol, 2013. "The impact of a carbon tax on economic growth and carbon dioxide emissions in Ireland," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 56(7), pages 934-952, September.
  58. Roger Fouquet, 2012. "Economics of Energy and Climate Change: Origins, Developments and Growth," Working Papers 2012-08, BC3.
  59. Millner, Antony & Dietz, Simon & Heal, Geoffrey, 2010. "Ambiguity and climate policy," LSE Research Online Documents on Economics 37595, London School of Economics and Political Science, LSE Library.
  60. Pizer, William, 2003. "Climate Change Catastrophes," RFF Working Paper Series dp-03-31, Resources for the Future.
  61. Quirion, Philippe, 2010. "Complying with the Kyoto Protocol under uncertainty: Taxes or tradable permits?," Energy Policy, Elsevier, vol. 38(9), pages 5166-5173, September.
  62. Philippe Quirion, 2004. "Prices versus Quantities in a Second-Best Setting," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 29(3), pages 337-359, November.
  63. Haoqi, Qian & Libo, Wu & Weiqi, Tang, 2017. "“Lock-in” effect of emission standard and its impact on the choice of market based instruments," Energy Economics, Elsevier, vol. 63(C), pages 41-50.
  64. Lecuyer, Oskar & Quirion, Philippe, 2013. "Can uncertainty justify overlapping policy instruments to mitigate emissions?," Ecological Economics, Elsevier, vol. 93(C), pages 177-191.
  65. Charles F. Mason & Neil Wilmot, 2015. "Modeling Damages in Climate Policy Models: Temperature-Based or Carbon-Based?," CESifo Working Paper Series 5287, CESifo.
  66. Quirion, Philippe, 2005. "Does uncertainty justify intensity emission caps?," Resource and Energy Economics, Elsevier, vol. 27(4), pages 343-353, November.
  67. Botor, Benjamin & Böcker, Benjamin & Kallabis, Thomas & Weber, Christoph, 2021. "Information shocks and profitability risks for power plant investments – impacts of policy instruments," Energy Economics, Elsevier, vol. 102(C).
  68. Dongmei Guo & Yi Hu & Bingjie Zhang, 2014. "Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump Diffusion," Discrete Dynamics in Nature and Society, Hindawi, vol. 2014, pages 1-7, May.
  69. Fell, Harrison & MacKenzie, Ian A. & Pizer, William A., 2012. "Prices versus quantities versus bankable quantities," Resource and Energy Economics, Elsevier, vol. 34(4), pages 607-623.
  70. Pezzey, John C.V. & Jotzo, Frank, 2010. "Tax-Versus-Trading and Free Emission Shares as Issues for Climate Policy Design," Research Reports 95049, Australian National University, Environmental Economics Research Hub.
  71. Harrison Fell & Richard Morgenstern, 2010. "Alternative Approaches to Cost Containment in a Cap-and-Trade System," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 47(2), pages 275-297, October.
  72. Philippe Quirion, 2021. "Tradable instruments to fight climate change: A disappointing outcome," Post-Print hal-03495904, HAL.
  73. Chen, Yu-Fu & Funke, Michael, 2012. "Global Warming and Fat Tailed-uncertainty: Rethinking the Timing and Intensity of Climate Policy," SIRE Discussion Papers 2012-41, Scottish Institute for Research in Economics (SIRE).
  74. S. Niggol Seo, 2013. "Economics of global warming as a global public good: Private incentives and smart adaptations," Regional Science Policy & Practice, Wiley Blackwell, vol. 5(1), pages 83-95, March.
  75. Mort Webster, 2008. "Incorporating Path Dependency into Decision-Analytic Methods: An Application to Global Climate-Change Policy," Decision Analysis, INFORMS, vol. 5(2), pages 60-75, June.
  76. Shreekar Pradhan & J. Scott Holladay & Mohammed Mohsin & Shreekar Pradhan, 2015. "Environmental Policy Instruments and Uncertainties Under Free Trade and Capital Mobility," EcoMod2015 8102, EcoMod.
  77. Warwick McKibbin & Adele Morris & Peter Wilcoxen, 2014. "A Proposal to Integrate Price Mechanisms into International Climate Negotiations," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 1(3), pages 600-608, September.
  78. Martin L. Weitzman, 2001. "Gamma Discounting," American Economic Review, American Economic Association, vol. 91(1), pages 260-271, March.
  79. Shrestha, Ratna K., 2001. "The choice of environmental policy instruments under correlated uncertainty," Resource and Energy Economics, Elsevier, vol. 23(2), pages 175-185, April.
  80. Newell, Richard G. & Jaffe, Adam B. & Stavins, Robert N., 2006. "The effects of economic and policy incentives on carbon mitigation technologies," Energy Economics, Elsevier, vol. 28(5-6), pages 563-578, November.
  81. Tang, Bao-Jun & Wang, Xiang-Yu & Wei, Yi-Ming, 2019. "Quantities versus prices for best social welfare in carbon reduction: A literature review," Applied Energy, Elsevier, vol. 233, pages 554-564.
  82. Douglas Hanley & Daron Acemoglu & Ufuk Akcigit & William Kerr, 2014. "Transition to Clean Technology," Working Paper 534, Department of Economics, University of Pittsburgh, revised Jan 2014.
  83. Gren, Ing-Marie & Carlsson, Mattias & Elofsson, Katarina & Munnich, Miriam, 2012. "Stochastic carbon sinks for combating carbon dioxide emissions in the EU," Energy Economics, Elsevier, vol. 34(5), pages 1523-1531.
  84. Yongyang Cai & Kenneth L. Judd & Thomas S. Lontzek, 2013. "The Social Cost of Stochastic and Irreversible Climate Change," NBER Working Papers 18704, National Bureau of Economic Research, Inc.
  85. Marschinski, Robert & Lecocq, Franck, 2006. "Do intensity targets control uncertainty better than quotas ? Conditions, calibrations, and caveats," Policy Research Working Paper Series 4033, The World Bank.
  86. Larry Karp & Jiangfeng Zhang, 2016. "Taxes Versus Quantities for a Stock Pollutant with Endogenous Abatement Costs and Asymmetric Information," Studies in Economic Theory, in: Graciela Chichilnisky & Armon Rezai (ed.), The Economics of the Global Environment, pages 493-533, Springer.
  87. Xu, Wenli & Xu, Kun & Lu, Hongyou, 2016. "Environmental Policy and China’s Macroeconomic Dynamics Under Uncertainty---Based on The NK Model with Distortionary Taxation," MPRA Paper 71314, University Library of Munich, Germany.
  88. In Hwang & Frédéric Reynès & Richard Tol, 2013. "Climate Policy Under Fat-Tailed Risk: An Application of Dice," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 56(3), pages 415-436, November.
  89. Peterson, Sonja, 2004. "The contribution of economics to the analysis of climate change and uncertainty: a survey of approaches and findings," Kiel Working Papers 1212, Kiel Institute for the World Economy (IfW Kiel).
  90. Baker, Erin & Shittu, Ekundayo, 2008. "Uncertainty and endogenous technical change in climate policy models," Energy Economics, Elsevier, vol. 30(6), pages 2817-2828, November.
  91. Liepold, Constanze & Fabianek, Paul & Madlener, Reinhard, 2023. "A Critical Evaluation of the 2022 Greenhouse Gas Mitigation Quota in Germany from an Environmental Economics and Policy Perspective," FCN Working Papers 10/2023, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
  92. Bergquist, Ann-Kristin & Söderholm, Kristina & Kinneryd, Hanna & Lindmark, Magnus & Söderholm, Patrik, 2013. "Command-and-control revisited: Environmental compliance and technological change in Swedish industry 1970–1990," Ecological Economics, Elsevier, vol. 85(C), pages 6-19.
  93. Seung-Rae Kim, 2005. "Uncertainty, Learning, and Optimal Technological Portfolios: A Dynamic General Equilibrium Approach to Climate Change," Computing in Economics and Finance 2005 54, Society for Computational Economics.
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  98. Kame Babilla, Thierry, 2014. "Food Price Volatility implications for Trade and Monetary Policy between Nigeria and CEMAC: a Bayesian DSGE model approach," Conference papers 332525, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
  99. Wadud, Zia & Chintakayala, Phani Kumar, 2019. "Personal Carbon Trading: Trade-off and Complementarity Between In-home and Transport Related Emissions Reduction," Ecological Economics, Elsevier, vol. 156(C), pages 397-408.
  100. Jing Wu & Jean-Claude Thill, 2018. "Climate change coalition formation and equilibrium strategies in mitigation games in the post-Kyoto Era," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 18(4), pages 573-598, August.
  101. Martha Butler & Patrick Reed & Karen Fisher-Vanden & Klaus Keller & Thorsten Wagener, 2014. "Inaction and climate stabilization uncertainties lead to severe economic risks," Climatic Change, Springer, vol. 127(3), pages 463-474, December.
  102. Xi Xie & Yuwei Weng & Wenjia Cai, 2018. "Co-Benefits of CO 2 Mitigation for NO X Emission Reduction: A Research Based on the DICE Model," Sustainability, MDPI, vol. 10(4), pages 1-18, April.
  103. Wirl, Franz, 2006. "Consequences of irreversibilities on optimal intertemporal CO2 emission policies under uncertainty," Resource and Energy Economics, Elsevier, vol. 28(2), pages 105-123, May.
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  105. Oliveira, Livio Luiz Soares de & Júnior, Sabino da Silva Porto, 2004. "O desenvolvimento dustentável e a conexão dos recursos naturais com o crescimento econômico: uma aplicação para o Brasil e a região nordeste [Sustainable development and connection of natural resou," MPRA Paper 45436, University Library of Munich, Germany.
  106. Jongmin Yu & Sejoong Lee, 2017. "The Impact of Greenhouse Gas Emissions on Corporate Social Responsibility in Korea," Sustainability, MDPI, vol. 9(7), pages 1-15, June.
  107. David F. Bradford & Seung-Rae Kim & Klaus Keller, 2004. "Optimal Technological Portfolios for Climate-Change Policy under Uncertainty: A Computable General Equilibrium Approach," Computing in Economics and Finance 2004 140, Society for Computational Economics.
  108. Bergquist, Ann-Kristin & Söderholm, Kristina & Kinneryd, Hanna & Lindmark, Magnus & Söderholm, Patrick, 2012. "Command-and-Control Revisited: Environmental Compliance and Innovation in Swedish Industry 1970-1990," CERE Working Papers 2012:2, CERE - the Center for Environmental and Resource Economics.
  109. Isabel Mendes & Isabel Proença, 2005. "Estimating the Recreation Value of Ecosystems by Using a Travel Cost Method Approach," Working Papers Department of Economics 2005/08, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
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