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dc.contributor.authorNarita, Daijuen_US
dc.date.accessioned2010-05-20en_US
dc.date.accessioned2010-06-29T14:27:59Z-
dc.date.available2010-06-29T14:27:59Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/32809-
dc.description.abstractIt is believed that the primary economic solution to climate change is an introduction of a carbon pricing system anchored to the social cost of carbon, either as a form of tax or tradable permits. Potentially significant externalities accompanying the introduction of emission-reducing technologies, however, imply that the standard argument does not capture some important aspects for the designing of climate policy such as expectation-driven technology adoption. By using a simple model, we show some possible cases where carbon emission reduction progresses in a self-fulfilling prophecy by firms expecting others' future actions. In such circumstances, the carbon pricing system does not have much influence on determining the final outcome of economy-wide emission reduction. This highlights the danger of overemphasis on finding the 'right' carbon price in policy making and the role of climate policy as expectation management.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel working paper 1624en_US
dc.subject.jelQ54en_US
dc.subject.jelO33en_US
dc.subject.ddc330en_US
dc.subject.keywordClimate policyen_US
dc.subject.keywordtechnology choiceen_US
dc.subject.keywordexpectationsen_US
dc.subject.keywordmultiple equilibriaen_US
dc.subject.stwKlimaschutzen_US
dc.subject.stwÖkosteueren_US
dc.subject.stwEmissionsrechteen_US
dc.subject.stwErwartungstheorieen_US
dc.subject.stwUmwelttechniken_US
dc.subject.stwTechnologiewahlen_US
dc.subject.stwGleichgewichten_US
dc.subject.stwTheorieen_US
dc.titleClimate policy as expectation management?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn626563844en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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Kieler Arbeitspapiere, IfW

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