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On the efficiency of a global market for carbon dioxide emission permits: Type of externality and timing of policymaking

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  • Silva, Emilson C.D.
  • Zhu, Xie

Abstract

We demonstrate that global permit markets are Pareto efficient despite the externality type, production or consumption, when income redistribution occurs after regional environmental policymaking. Ex-ante income redistribution is neutral if emissions affect production only, but non-neutral if emissions affect consumption.

Suggested Citation

  • Silva, Emilson C.D. & Zhu, Xie, 2008. "On the efficiency of a global market for carbon dioxide emission permits: Type of externality and timing of policymaking," Economics Letters, Elsevier, vol. 100(2), pages 213-216, August.
    • Handle: RePEc:eee:ecolet:v:100:y:2008:i:2:p:213-216
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    1. Chichilnisky, Graciela & Heal, Geoffrey, 1994. "Who should abate carbon emissions? : An international viewpoint," Economics Letters, Elsevier, vol. 44(4), pages 443-449, April.
    2. Roberts, Russell D, 1984. "A Positive Model of Private Charity and Public Transfers," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 136-148, February.
    3. Warr, Peter G., 1983. "The private provision of a public good is independent of the distribution of income," Economics Letters, Elsevier, vol. 13(2-3), pages 207-211.
    4. Warr, Peter G., 1982. "Pareto optimal redistribution and private charity," Journal of Public Economics, Elsevier, vol. 19(1), pages 131-138, October.
    5. Arthur J. Caplan & Richard C. Cornes & Emilson C. D. Silva, 2003. "An ideal Kyoto protocol: emissions trading, redistributive transfers and global participation," Oxford Economic Papers, Oxford University Press, vol. 55(2), pages 216-234, April.
    6. Chao, Hung-po & Peck, Stephen, 2000. "Greenhouse gas abatement: How much? and Who pays?," Resource and Energy Economics, Elsevier, vol. 22(1), pages 1-20, January.
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    Cited by:

    1. Silva, Emilson C.D. & Zhu, Xie, 2009. "Emissions trading of global and local pollutants, pollution havens and free riding," Journal of Environmental Economics and Management, Elsevier, vol. 58(2), pages 169-182, September.
    2. Emilson Silva & Xie Zhu, 2008. "Global trading of carbon dioxide permits with noncompliant polluters," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 15(4), pages 430-459, August.

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