Optimal Fossil-Fuel Taxation with Backstop Technologies and Tenure Risk
The paper derives the global welfare-optimizing time path for a tax on fossil fuels causing a negative stock externality (climate change), under increasing marginal extraction cost, and in the presence of an unlimited backstop resource causing no externality. In a basic competitive case, the optimal...
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| Language: | EN |
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2012
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| Online Access: | http://hdl.handle.net/10986/4964 |