Please use this identifier to cite or link to this item:
Full metadata record
DC FieldValueLanguage
dc.contributor.authorLontzek, Thomas S.en_US
dc.contributor.authorRickels, Wilfrieden_US
dc.description.abstractIn the presence of rising carbon concentrations more attention should be given to the role of the oceans as a sink for atmospheric carbon. We do so by setting up a simple dynamic global carbon cycle model with two reservoirs containing atmosphere and two ocean layers. The net flux between these reservoirs is determined by the relative reservoir size and therefore constitutes a more appropriate description of the carbon cycle than a proportional decay assumption. We exploit the specific feature of our model, the mixing of the carbon reservoirs, by allowing for a special form of carbon capture and storage: The capture of CO2 from the air and the sequestration of CO2 into the deep ocean reservoir. We study the socially optimal anthropogenic intervention of the global carbon cycle using a non-renewable resource stock. We find that this kind of carbon capture and storage facilitates achieving strict stabilization targets for the atmospheric carbon content. It accelerates the slow natural flux within the carbon cycle, and because of its temporary abatement character it dampens the overshooting of the atmospheric reservoir. Furthermore, we analyze the optimal paths of the carbon tax. The carbon tax shows to be inverted u-shaped but depending on the initial sizes of the reservoirs and the speed of carbon fluxes between the reservoirs we also find the optimal tax to be increasing, decreasing or u-shaped. Finally, we suggest to link the level of the carbon tax to the declining ability of the deep ocean to absorb atmospheric carbon.en_US
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen_US
dc.relation.ispartofseries|aKiel Working Paper |x1475en_US
dc.subject.keywordExhaustible resourceen_US
dc.subject.keywordocean sinksen_US
dc.subject.keywordocean sequestrationen_US
dc.subject.keywordair captureen_US
dc.subject.keywordcarbon taxen_US
dc.subject.keywordcarbon cycleen_US
dc.subject.stwErschöpfbare Ressourcenen_US
dc.titleCarbon capture and storage & the optimal path of the carbon taxen_US
dc.type|aWorking Paperen_US

Files in This Item:
550.55 kB

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.