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EmissionTaxes and Tradable Permits: A Comparison of views on Long Run Efficiency

John Pezzey ()

Economics and Environment Network Working Papers from Australian National University, Economics and Environment Network

Abstract: We compare three different views on the long run efficiencies of emission taxes which include thresholds, and of tradable emission permits where some permits are initially free. The differences are caused by different assumptions about whether thresholds and free permits should be subsidies given only to firms that produce, or full property rights. Treating tax thresholds, as well as free permits, as property rights would depart from the conventional view, but would allow greater flexibility in making economic instruments both efficient and acceptable. Such flexibility could be very important in achieving efficent control of greenhouse gas emissions.

Keywords: emission taxes; tradable permits; thresholds; exemptions; efficiency (search for similar items in EconPapers)
JEL-codes: H23 Q58 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2002-06
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Journal Article: Emission Taxes and Tradeable Permits A Comparison of Views on Long-Run Efficiency (2003) Downloads
Working Paper: Emission Taxes and Tradable Permits: A Comparison of Views on Long Run Efficiency (2003) Downloads
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