Emission Taxes and Tradeable Permits A Comparison of Views on Long-Run Efficiency

John C. V. Pezzey ()

Environmental & Resource Economics, 2003, vol. 26, issue 2, pages 329-342

Abstract: We compare three different views on the long runefficiencies of emission taxes which includethresholds (inframarginalexemptions), and of tradeable emission permitswhere some permits areinitially free. The differences are caused bydifferent assumptions aboutwhether thresholds and free permits should besubsidies given only to firmsthat produce, or full property rights. Treatingtax thresholds, as well asfree permits, as property rights would departfrom the conventional view,but would allow greater flexibility in makingeconomic instruments bothefficient and acceptable. Such flexibilitycould be very important inachieving efficient control of greenhouse gasemissions. Copyright Kluwer Academic Publishers 2003

Keywords: efficiency; emission taxes; exemptions; thresholds; tradeable permits (search for similar items in EconPapers)
Date: 2003
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Working Paper: Emission Taxes and Tradable Permits: A Comparison of Views on Long Run Efficiency (2003)
Working Paper: EmissionTaxes and Tradable Permits: A Comparison of views on Long Run Efficiency (2002)
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