NDLI: CO2-stabilization may be a ‘no-regrets’ policy : A general equilibrium analysis of the Norwegian economy

Content Provider	Springer Nature Link
Author	Håkonsen, Lars Mathiesen, Lars
Copyright Year	1997
Abstract	Restricting CO2 emissions requires changing today's consumption pattern away from energy and emission intensive commodities towards cleaner goods. The cost of stabilizing CO2 emissions at the 1990 level by the year 2000, say, as compared to a business-as-usual trend, is estimated by several researchers to be on the order of 1% of GNP. We will argue that the cost may be overestimated because of a too simple model describing the working of the economic system and the evaluation of welfare. We demonstrate that by expanding a model to include the actual tax system and negative externalities, the cost to present generations from restricting emissions by a CO2 tax may be negative. That is, some reduction may actually correspond to a ‘no-regrets’ policy. The reasons are inefficiencies in today's tax system and non-optimal handling of negative externalities. Our analysis suggests that a CO2 tax and reduced emissions will lessen such inefficiencies.
Starting Page	171
Ending Page	198
Page Count	28
File Format	PDF
ISSN	09246460
Journal	Environmental and Resource Economics
Volume Number	9
Issue Number	2
e-ISSN	15731502
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	1997-01-01
Publisher Place	Dordrecht
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	CO2 regulation green tax reform negative externalities general equilibrium analysis Environmental Management Economics/Management Science Economic Policy Environmental Economics
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics Management, Monitoring, Policy and Law

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