| 来源类型 | Research papers
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| 规范类型 | 报告
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| Social Welfare Loss of Emission Regulation in Transportation Sector |
| Y. D. Kim; G. L. Cho
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| 发表日期 | 2003-12-31
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| 出版年 | 2003
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| 语种 | 英语
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| 摘要 |
This study investigates the cost-effectiveness of alternative policies with an identical NOx emission allowance in the transportation sector. Introducing an environmental policy in the transportation sector, consumers will face the following transportation options: �� New Vehicle & Conventional Fuel, �� New Vehicle & Lower Sulphur Content Fuel, �� Conventional Vehicle & Conventional Fuel, and �� Conventional Vehicle & Lower Sulphur Content Fuel. For analysis, we employe a computable general equilibrium model describing Korean economy. Detailed considerations is given to above consumers' choices for transportation services.
The level of permitted emission is set as the year 2007 level which is estimated with EURO4 & ULEV emission coefficient. We consider two different policies for archiving the emission target. One is the emission trading and the other one is the commend and control(CAC). Under emission trading policy, there is no any regulations on either fuel or vehicle quality. There is only emission cap in this policy. Therefore, consumers choose one of above four options to maximize their utility under their budget constraints.
Under CAC, however, only lower sulphur content diesel(15ppm or 50ppm) is allowed to be produced while both conventional and new vehicle are available in the market. Furthermore, we assumed that conventional vehicles are gradually phased out resulting in only new vehicles available in the future. Under CAC, therefore, consumers face the fewer transportation options than those under emission trading policy.
For the scenario of fuel switching form 430ppm to 50ppm of sulfuric fuel, our result shows that projected GDP loss of emission trading without revenue recycling is 9.1% against BaU while the loss of CAC is 9.4% in 2007. If government uses its revenue to mitigate pre-existing tax distortion, GDP losses are 6.6%. In terms of GDP losses, therefore, emission trading with revenue recycling is more desirable policy than CAC and emission trading without revenue recycling. For the more tightened fuel switching from 430ppm to 15ppm, it is more obvious that GDP losses are smaller in emission trading with revenue recycling than in the other polices.
The strict environmental regulation is a double-edged sword which has positive effect of improving environmental quality and negative effect of weakening economic growth. Therefore, it should aim to minimize the negative effect with satisfying the initial policy objective. In that point, this study shows that emission trading with revenue recycling is more cost-effective policy than CAC.
140 pages. 55 refs., 4 figs., 71 tabs.
, Language: Korean |
| URL | http://www.keei.re.kr/web_keei/en_publish.nsf/by_report_year/A0F3D4ECECA2918B49256E2F00236EC8?OpenDocument
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| 来源智库 | Korea Energy Economics Institute (Republic of Korea)
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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/322270
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推荐引用方式
GB/T 7714 |
Y. D. Kim,G. L. Cho. Social Welfare Loss of Emission Regulation in Transportation Sector. 2003.
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