| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15941 |
| DP15941 Smart Cap | |
| Christian Traeger; Larry Karp | |
| 发表日期 | 2021-03-19 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We introduce a “smart” cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty”). This cap responds endogenously to technology or macroeconomic shocks, relying on the market price of certificates to aggregate information. It allows policy makers to modify existing institutions to achieve more efficient emission reductions. The paper also shows that the efficient carbon price is more sensitive to technological innovations than usually assumed. The lasting impact and slow diffusion of these innovations typically make the optimal carbon price a much steeper function of emissions than suggested by the social cost of carbon. |
| 主题 | Research policy networks ; Climate Change |
| 关键词 | Pollution Climate change Taxes Quantities Regulation Uncertainty Technology diffusion Asymmetric information Integrated assessment |
| URL | https://cepr.org/publications/dp15941 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544932 |
| 推荐引用方式 GB/T 7714 | Christian Traeger,Larry Karp. DP15941 Smart Cap. 2021. |
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