Resource title

Public policies against global warming

Resource image

image for OpenScout resource :: Public policies against global warming

Resource description

Judged by the principle of intertemporal Pareto optimality, insecure property rights and the greenhouse effect both imply overly rapid extraction of fossil carbon resources. A gradual expansion of demand-reducing public policies such as increasing ad-valorem taxes on carbon consumption or increasing subsidies for replacement technologies may exacerbate the problem as it gives resource owners the incentive to avoid future price reductions by anticipating their sales. Useful policies instead involve sequestration, afforestation, stabilization of property rights and emissions trading. Among the public finance measures, constant unit carbon taxes and source taxes on capital income for resource owners stand out.

Resource author

Hans-Werner Sinn

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/26132

Resource license

Adapt according to the presented license agreement and reference the original author.