GTAP Resources: Resource Display
| GTAP Resource #972 |
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"Policy choices of international CO2 emissions control" by Jiang, Tingsong Abstract This paper discusses the choice of economic instruments to control carbon dioxide emissions. Three instruments, an emission trading system, a uniform international emission tax and a differentiated tax, are analyzed in a general equilibrium framework. It is found that an emission trading system is the best, in terms of achieving global welfare optimum, among these three instruments because of the associated income transfers across national borders. However, it is these income transfers that make it is difficult to reach an international agreement on permit allocation. If income transfers are restricted, a differentiated emission tax system is better than a uniform tax system to achieve the second best outcome. A differentiated tax system tends to favor developing countries more than developed countries while a uniform international tax system tends to favor developed countries more. Numerical simulations using a stylized static general equilibrium model and a dynamic general equilibrium model, G-Cubed-T, confirm these findings. |
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Last Modified: 9/15/2023 2:05:45 PM
