Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/192846 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
Discussion Papers No. 864
Verlag: 
Statistics Norway, Research Department, Oslo
Zusammenfassung: 
This paper examines regulation in the presence of adjustment costs and resource scarcity, allowing for imperfectly informed firms. I find strong evidence that announcement of future environmental regulation will reduce current emissions in the combined presence of resource scarcity and adjustment costs. This contrasts with the results in the literature on the green paradox. Further, efficient transition towards a low emission economy requires an investment tax on emission intensive production, unless firms have perfect information about the future. Moreover, investments in clean substitutes should first receive a subsidy, but may thereafter be taxed. The optimal tax on production differs from the Pigouvian tax in the case of scarce resources. Last, a uniform tax across heterogeneous agents can induce the socially optimal outcome only if firms have equal expectations about the future.
Schlagwörter: 
regulation
adjustment cost
imperfect information
exhaustible resources
climate change
JEL: 
H21
H23
Q35
Q41
Q54
Dokumentart: 
Working Paper

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