Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/43557
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dc.contributor.authorGerlagh, Reyeren_US
dc.date.accessioned2010-11-22en_US
dc.date.accessioned2010-12-22T10:44:03Z-
dc.date.available2010-12-22T10:44:03Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/43557-
dc.description.abstractFear for oil exhaustion and its consequences on economic growth has been a driver of a rich literature on exhaustible resources from the 1970s onwards. But our view on oil has remarkably changed and we now worry how we should constrain climate change damages associated with oil and other fossil fuel use. In this climate change debate, economists have pointed to a green paradox: when policy makers stimulate the development of non-carbon energy sources to (partly)replace fossil fuels in the future, oil markets may anticipate a future reduction in demand and increase current supply. The availability of 'green' technologies may increase damages. The insight comes from the basic exhaustible resource model. We reproduce the green paradox and to facilitate discussion differentiate between a weak and a strong version, related to short-term and long-term effects, respectively. Then we analyze the green paradox in 2 standard modifications of the exhaustible resource model. We find that increasing fossil fuel extraction costs counteracts the strong green paradox, while with imperfect energy substitutes both the weak and strong green paradox may vanish.en_US
dc.language.isoengen_US
dc.publisher|aFondazione Eni Enrico Mattei (FEEM) |cMilanoen_US
dc.relation.ispartofseries|aNota di lavoro // Fondazione Eni Enrico Mattei: Sustainable development |x2010,14en_US
dc.subject.jelQ31en_US
dc.subject.jelQ54en_US
dc.subject.ddc330en_US
dc.subject.keywordGreen Paradoxen_US
dc.subject.keywordClimate Changeen_US
dc.subject.keywordExhaustible Resourcesen_US
dc.subject.keywordFossil Fuelsen_US
dc.subject.stwKlimaveränderungen_US
dc.subject.stwFörderung regenerativer Energienen_US
dc.subject.stwKohlendioxiden_US
dc.subject.stwFossiler Energieträgeren_US
dc.subject.stwEnergiesubstitutionen_US
dc.subject.stwEnergiesteueren_US
dc.subject.stwWirkungsanalyseen_US
dc.titleToo much oilen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn640265332en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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