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| Author: | Hoel, M. |
| Title: | The triple inefficiency of uncoordinated environmental policies |
| Journal: | Scandinavian Journal of Economics
2005 : VOL 107:1, p. 157-173 |
| Index terms: | Environmental policy International trade Finance Pollution control Models |
| Language: | eng |
| Abstract: | When pollution is transboundary and there is international trade, a domestic inefficiency (here as: in-eff./in-effs.) may arise in addition to the well-known in-effs. at the international level. There will be a Nash equilibrium (hereafter as: N-eq.) in which each country chooses a policy giving it lower welfare than would otherwise be possible. However, there will also be a N-eq. in which each country chooses tradable emission quotas as its policy instrument to achieve its desired level of emissions. In this N-eq., welfare in each country is maximized given the emission levels of all countries. |
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