This paper compares the temporal profile of efforts to curb greenhouse gas emissions induced by two mitigation strategies: a regulation of all emissions with a carbon price and a regulation of emissions embedded in new capital only, using capital-based instruments such as investment regulation, differentiation of capital costs, or a carbon tax with temporary subsidies on brown capital. A Ramsey model is built with two types of capital: brown capital...
انظر المزيد
تفاصيل
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2013/9/01
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WPS6609
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1
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1
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2013/9/01
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Disclosed
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How capital-based instruments facilitate the transition toward a low-carbon economy : a tradeoff between optimality and acceptability
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marginal utility of consumption