The optimal extraction path of fossil fuels and the corresponding corrective tax on extraction are derived when two types of externalities associated with emission of carbondioxide (CO2) are taken into account. The optimal path is derived as a feedback control, that is, as a function of time and pollution. The tax-path is thereby adaptive to the aggregated level of carbondioxide. The two types of externalities are flow externalities associated with the extraction, defined as the difference between private and social marginal costs, and stock externalities associated with the aggregated level of CO2. The total time horizon is divided into two periods: an initial phase with extraction and a terminal phase without extraction. The lengths of t...
We present an endogenous growth model in which the use of a non-renewable natural resource generates...
The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modif...
The paper develops an explicit formula for the calculation of optimal carbon taxes in adynamic integ...
The optimal extraction path of fossil fuels and the corresponding corrective tax on extraction are d...
We analyze a dynamic stochastic general-equilibrium (DSGE) model with an externality---through clima...
This paper combines the theory of optimal extraction of exhaustible resources with the theory of gre...
This paper combines the theory of optimal extraction of exhaustible resources with the theory of gre...
The main purpose of this report is to investigate the effects of postponing implementation of a carb...
The effects of non-linear decay and consumer preferences are analyzed in a setting where optimal ext...
The purpose of this paper is to extend the dynamic resource allocation problem by including stock ex...
The purpose of this paper is to extend the dynamic resource allocation problem by including stock ex...
A stylised analytical framework is used to show how the global carbon tax and the amount of unt...
AbstractA stylised analytical framework is used to show how the global carbon tax and the amount of ...
The effects of non-linear decay and consumer preferences are analyzed in a setting where optimal ext...
Abstract: This paper presents a neoclassical growth model with three energy sectors and a climate ex...
We present an endogenous growth model in which the use of a non-renewable natural resource generates...
The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modif...
The paper develops an explicit formula for the calculation of optimal carbon taxes in adynamic integ...
The optimal extraction path of fossil fuels and the corresponding corrective tax on extraction are d...
We analyze a dynamic stochastic general-equilibrium (DSGE) model with an externality---through clima...
This paper combines the theory of optimal extraction of exhaustible resources with the theory of gre...
This paper combines the theory of optimal extraction of exhaustible resources with the theory of gre...
The main purpose of this report is to investigate the effects of postponing implementation of a carb...
The effects of non-linear decay and consumer preferences are analyzed in a setting where optimal ext...
The purpose of this paper is to extend the dynamic resource allocation problem by including stock ex...
The purpose of this paper is to extend the dynamic resource allocation problem by including stock ex...
A stylised analytical framework is used to show how the global carbon tax and the amount of unt...
AbstractA stylised analytical framework is used to show how the global carbon tax and the amount of ...
The effects of non-linear decay and consumer preferences are analyzed in a setting where optimal ext...
Abstract: This paper presents a neoclassical growth model with three energy sectors and a climate ex...
We present an endogenous growth model in which the use of a non-renewable natural resource generates...
The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modif...
The paper develops an explicit formula for the calculation of optimal carbon taxes in adynamic integ...