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International Emission Policy with Lobbying and Technological Change

In: Dynamic Systems, Economic Growth, and the Environment

Author

Listed:
  • Tapio Palokangas

    (University of Helsinki and HECER
    International Institute for Applied Systems Analysis (IIASA))

Abstract

I examine emission policy in a union of countries when production in any country incurs emissions that pollute all over the union, but efficiency in production is improved by research and development (R&D). I compare four cases: Laissez-faire, Pareto optimal policy, and the case of a self-interested central planner that decides on nontraded or traded emission quotas. I show that with nontraded quotas, the growth rate is socially optimal, but welfare sub-optimal. Trade in quotas speeds up growth from the initial position of laissez-faire, but slows down growth from the initial position of nontraded quotas.

Suggested Citation

  • Tapio Palokangas, 2010. "International Emission Policy with Lobbying and Technological Change," Dynamic Modeling and Econometrics in Economics and Finance, in: Jesús Crespo Cuaresma & Tapio Palokangas & Alexander Tarasyev (ed.), Dynamic Systems, Economic Growth, and the Environment, pages 161-181, Springer.
    • Handle: RePEc:spr:dymchp:978-3-642-02132-9_8
    DOI: 10.1007/978-3-642-02132-9_8
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