Journal Article

Climate policy

John Hassler, Per Krusell and Jonas Nycander

in Economic Policy

Published on behalf of Center for Economic Studies of the University of Munich

Volume 31, issue 87, pages 503-558
Published in print July 2016 | ISSN: 0266-4658
Published online July 2016 | e-ISSN: 1468-0327 | DOI: https://dx.doi.org/10.1093/epolic/eiw007
Climate policy

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  • Technological Change; Research and Development
  • Economic Growth and Aggregate Productivity
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This paper makes suggestions for climate policy and defends them based on recent research in economics and the natural sciences. In summary: (i) the optimal carbon tax is rather modest; (ii) the key climate threat is coal; (iii) a carbon tax is to be preferred over a quantity-based system; (iv) the optimal tax on carbon does not appreciably harm growth; (v) subsidies to green technology are beneficial for the climate only to the extent that they make green technology outcompete coal; and (vi) a carbon tax is politically feasible.

Keywords: O3; O44; Q43; Q54

Journal Article.  23932 words.  Illustrated.

Subjects: Technological Change; Research and Development ; Economic Growth and Aggregate Productivity ; Energy Economics ; Environmental Economics

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