| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Climate Policy, Asymmetric Information and Firm Survival |
| Cathrine Hagem
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| 发表日期 | 2001
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| 出处 | Climate Change and Sustainable Development
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| 出版年 | 2001
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| 语种 | 英语
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| 摘要 | The purpose of this paper is to compare the effect of different domestic climate policy instruments under asymmetric information when the regulator wants to secure the survival of a specific firm. It is a well-known result from economic theory that emission taxes lead to a cost-effective distribution of abatement across polluters. However, if the regulator wants to ensure the survival of a specific firm, it may need to design policy instruments that reduce the firm's cost of complying with an emission tax regime. The climate policy instruments considered in this paper are tradable emission permits with distribution of free permits, emission taxes in combination with a fixed subsidy, and two types of voluntary agreements. It demonstrates first that if distributing free tradable permits shall have a preventing effect, the allocation of permits has to be made contingent on production. It further shows that a voluntary agreement where a specific abatement target is set by the regulator can prevent a shutdown but leads to lower welfare than the use of emission taxes in combination with a fixed subsidy. And finally it illustrates that a voluntary agreement designed as a menu of abatement contracts increases social welfare compared to an emission tax regime. |
| 特色分类 | D82,Q25
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| 关键词 | Climate policy,tradable permits,emission taxes,voluntary agreements,asymmetric information
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/climate-policy-asymmetric-information-and-firm-survival/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116613
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推荐引用方式
GB/T 7714 |
Cathrine Hagem. Climate Policy, Asymmetric Information and Firm Survival. 2001.
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文件名：
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NDL2001-010.pdf
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格式：
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Adobe PDF
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