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Refunded NOx-Emission Payments Scheme: A Viable Alternative to a Pigouvian Tax?

Author

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  • Arild Heimvik
  • Eirik S. Amundsen

Abstract

We consider a regulator seeking to achieve a specific target time path of NOx emission reductions, using a refunded emission payments (REP) scheme. The paper's main objective is an efficiency comparison of two REP schemes with different refunding criteria. Both schemes may attain the targets and one of them can achieve the results from using an optimal single emission tax without any refunds. Distributional effects of applying the schemes on firms with different characteristics are also analyzed. If a single tax or a quota system cannot be used, an REP scheme based on emission reduction should be preferred.

Suggested Citation

  • Arild Heimvik & Eirik S. Amundsen, 2024. "Refunded NOx-Emission Payments Scheme: A Viable Alternative to a Pigouvian Tax?," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 180(3), pages 485-510.
    • Handle: RePEc:mhr:jinste:urn:doi:10.1628/jite-2024-0002
    DOI: 10.1628/jite-2024-0002
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    More about this item

    Keywords

    refunded emission payments; government policy;

    JEL classification:

    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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