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dc.contributor.authorNarita, Daijuen
dc.date.accessioned2010-05-20-
dc.date.accessioned2010-06-29T14:27:59Z-
dc.date.available2010-06-29T14:27:59Z-
dc.date.issued2010-
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1624en
dc.subject.jelQ54en
dc.subject.jelO33en
dc.subject.ddc330en
dc.subject.keywordClimate policyen
dc.subject.keywordtechnology choiceen
dc.subject.keywordexpectationsen
dc.subject.keywordmultiple equilibriaen
dc.subject.stwKlimaschutzen
dc.subject.stwÖkosteueren
dc.subject.stwEmissionsrechteen
dc.subject.stwErwartungstheorieen
dc.subject.stwUmwelttechniken
dc.subject.stwTechnologiewahlen
dc.subject.stwGleichgewichten
dc.subject.stwTheorieen
dc.titleClimate policy as expectation management?-
dc.typeWorking Paperen
dc.identifier.ppn626563844en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1624en

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