1 option
Incentivizing Negative Emissions Through Carbon Shares / Derek Lemoine.
- Format:
- Book
- Author/Creator:
- Lemoine, Derek.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w27880.
- NBER working paper series no. w27880
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- I analyze a novel climate policy instrument that attaches a transferable asset to each unit of carbon in the atmosphere. I show that this instrument improves on an emission tax by incentivizing both optimal emission reductions and optimal removal of past emissions. Emitters post a bond equal to the worst-case social cost of carbon, and the regulator deducts damages as they are realized over time. Quantitatively, a bond that is double the optimal emission tax is sufficient to provide optimal carbon removal incentives in 95% of cases.
- Notes:
- Print version record
- October 2020.
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