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Global warming: Efficient policies in the case of multiple pollutants

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  • Peter Michaelis

Abstract

This article investigates efficient policies against global warming in the case of multiple greenhouse gases. In a dynamic optimization model conditions for an efficient combination of abatement activities are derived. It is shown how this solution can be decentralised by a system of emission charges. Since the determination of the charge rates should be based on a long time horizon, the impact of sequential planning methods is explored. The parameters of the model are specified with respect to the main greenhouse gases (carbon dioxide, methane, nitrous oxide, chlorofluorocarbons) and a scenario for an efficient charge system is calculated. For the main emission sources the tax base and the likely range of tax rates is derived. The results illustrate that efficient policy measures against global warming will not only affect the use of fossil fuels but will also impose a considerable burden on modern agriculture specialising in livestock and in intensive farming techniques. Copyright Kluwer Academic Publishers 1992

Suggested Citation

  • Peter Michaelis, 1992. "Global warming: Efficient policies in the case of multiple pollutants," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 2(1), pages 61-77, January.
    • Handle: RePEc:kap:enreec:v:2:y:1992:i:1:p:61-77
    DOI: 10.1007/BF00324689
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    1. Nordhaus, William D, 1991. "To Slow or Not to Slow: The Economics of the Greenhouse Effect," Economic Journal, Royal Economic Society, vol. 101(407), pages 920-937, July.
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    Cited by:

    1. Christian Azar & Daniel Johansson, 2012. "Valuing the non-CO 2 climate impacts of aviation," Climatic Change, Springer, vol. 111(3), pages 559-579, April.
    2. Michaelis, Peter, 1993. "Stabilising the global greenhouse: A simulation model," Kiel Working Papers 604, Kiel Institute for the World Economy (IfW Kiel).
    3. Daniel Johansson, 2012. "Economics- and physical-based metrics for comparing greenhouse gases," Climatic Change, Springer, vol. 110(1), pages 123-141, January.
    4. Baumgärtner, Stefan & Jöst, Frank & Winkler, Ralph, 2009. "Optimal dynamic scale and structure of a multi-pollution economy," Ecological Economics, Elsevier, vol. 68(4), pages 1226-1238, February.
    5. Heister, Johannes & Stähler, Frank, 1994. "Globale Umweltpolitik und joint implementation: Eine ökonomische Analyse für die Volksrepublik China," Kiel Working Papers 644, Kiel Institute for the World Economy (IfW Kiel).
    6. Yeo, Boon-Ling & Anastasiadis, Simon & Kerr, Suzi & Browne, Oliver, 2012. "Synergies between Nutrient Trading Scheme and the New Zealand Greenhouse Gas (GHG) Emissions Trading Scheme (ETS) in the Lake Rotorua Catchment," 2012 Conference, August 31, 2012, Nelson, New Zealand 144270, New Zealand Agricultural and Resource Economics Society.
    7. Michaelis, Peter, 1992. "The economics of greenhouse gas accumulation: A simulation approach," Kiel Working Papers 528, Kiel Institute for the World Economy (IfW Kiel).
    8. Waldhoff, Stephanie & Anthoff, David & Rose, Steven K. & Tol, Richard S. J., 2014. "The marginal damage costs of different greenhouse gases: An application of FUND," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-33.
    9. Woodward, Richard T., 2011. "Double-dipping in environmental markets," Journal of Environmental Economics and Management, Elsevier, vol. 61(2), pages 153-169, March.
    10. Simonis, Udo E. & Suplie, Jessica, 1996. "Weltumweltpolitik: Einführung und Bibliographie," Discussion Papers, Research Professorship Environmental Policy FS II 96-408, WZB Berlin Social Science Center.
    11. Michaelis, P., 1999. "Sustainable greenhouse policies: the role of non-CO2 gases," Structural Change and Economic Dynamics, Elsevier, vol. 10(2), pages 239-260, June.
    12. Arthur Caplan, 2006. "A Comparison of Emission Taxes and Permit Markets for Controlling Correlated Externalities," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 34(4), pages 471-492, August.
    13. Aillery, Marcel P. & Gollehon, Noel R. & Johansson, Robert C. & Kaplan, Jonathan D. & Key, Nigel D. & Ribaudo, Marc, 2005. "Managing Manure To Improve Air And Water Quality," Economic Research Report 33593, United States Department of Agriculture, Economic Research Service.
    14. Johansson, Daniel J.A., 2009. "Economics vs. Physical-based Metrics for Relative Greenhouse Gas Valuations," Working Papers in Economics 363, University of Gothenburg, Department of Economics.

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