| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17878 |
| 来源ID | Working Paper 17878 |
| Prices versus Quantities versus Bankable Quantities | |
| Harrison Fell; Ian A. MacKenzie; William A. Pizer | |
| 发表日期 | 2012-03-01 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Quantity-based regulation with banking allows regulated firms to shift obligations across time in response to periods of unexpectedly high or low marginal costs. Despite its wide prevalence in existing and proposed emission trading programs, banking has received limited attention in past welfare analyses of policy choice under uncertainty. We address this gap with a model of banking behavior that captures two key constraints: uncertainty about the future from the firm's perspective and a limit on negative bank values (e.g., borrowing). We show conditions where banking provisions reduce price volatility and lower expected costs compared to quantity policies without banking. For plausible parameter values related to U.S. climate change policy, we find that bankable quantities produce behavior quite similar to price policies for about two decades and, during this period, improve welfare by about a $1 billion per year over fixed quantities. |
| 主题 | Environmental and Resource Economics ; Environment |
| URL | https://www.nber.org/papers/w17878 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575553 |
| 推荐引用方式 GB/T 7714 | Harrison Fell,Ian A. MacKenzie,William A. Pizer. Prices versus Quantities versus Bankable Quantities. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17878.pdf（419KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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