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Tax-versus-trading and efficient revenue recycling as issues for greenhouse gas abatement

Pezzey, John (Jack); Jotzo, Frank

Description

We give empirical welfare results for global greenhouse gas emission abatement, using the first multi-party model to include both tax-versus-trading under uncertainties, and revenue recycling. Including multiple, independent parties greatly reduces the welfare advantage of an emissions tax over emissions (permit) trading in handling abatement-cost uncertainties, from that shown by existing, single-party literature. But a previously ignored and much bigger advantage of a tax, from better...[Show more]

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
URI: http://hdl.handle.net/1885/63372
Source: Journal of Environmental Economics and Management
DOI: 10.1016/j.jeem.2012.02.006

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