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• W2607248615 abstract "This paper studies the optimal taxation of carbon emissions in a dynastic economy. When the welfare function places direct Pareto weights on unborn generations, the social discount rate is lower than the discount rate of the current generation. I show that this welfare criterion has important consequences for the structure of the optimal regulatory system. In particular, I show that: (i) the optimal carbon tax does not in general equal the social cost of carbon; (ii) a subsidy on oil reserves is sometimes optimal; and (iii) carbon trading programs should limit the award of carbon offset allowances" @default.
• W2607248615 created "2017-04-28" @default.
• W2607248615 creator A5061219832 @default.
• W2607248615 date "2017-07-01" @default.
• W2607248615 modified "2023-09-24" @default.
• W2607248615 title "Carbon pricing, carbon sequestration and social discounting" @default.
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• W2607248615 doi "https://doi.org/10.1016/j.euroecorev.2017.03.015" @default.
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