Scandinavian Working Papers in Economics

Memorandum,
Oslo University, Department of Economics

No 08/2011: The supply side of CO2 with country heterogeneity

Michael Hoel ()
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Michael Hoel: Dept. of Economics, University of Oslo, Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway

Abstract: Several recent articles have analyzed climate policy giving explicit attention to the nonrenewable character of carbon resources. In most of this literature the economy is treated as a single unit, which in the context of climate policy seems reasonable to interpret as the whole world. However, carbon taxes and other climate policies differ substantially across countries. With such heterogeneity, the effects on emission paths of changes in taxes, costs and subsidies may be very different from what one …finds for a hypothetical world of identical countries.

Keywords: climate change; exhaustible resources; renewable energy; green paradox

JEL-codes: Q31; Q41; Q42; Q54; Q58

26 pages, April 28, 2011

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