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| Author: | Requate, T. Unold, W. |
| Title: | Environmental policy incentives to adopt advanced abatement technology: Will the true ranking please stand up? |
| Journal: | European Economic Review
2003 : FEB, VOL. 47:1, p. 125-146 |
| Index terms: | Environment Policy Taxation Standards Technology Auctions |
| Freeterms: | Environmental permits |
| Language: | eng |
| Abstract: | This paper investigates incentives through environmental policy instruments to adopt advanced abatement technology. First, the case is studied where the regulator makes long-term commitments to policy levels and does not anticipate arrival of new technology. It is shown that taxes provide stronger incentives than permits, auctioned and free permits offer identical incentives, and standards may give stronger incentives than permits. Second, investigated are scenarios where the regulator anticipates new technologies. It is shown that with taxes and permits the regulator can induce first-best outcomes if he moves after firms have invested, whereas this does not always hold if he moves first. |
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