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Allocation of carbon permits within a country: a general equilibrium analysis of the United Kingdom
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UNSPECIFIED (2001) Allocation of carbon permits within a country: a general equilibrium analysis of the United Kingdom. ENERGY ECONOMICS, 23 (4). pp. 371-386. ISSN 0140-9883.
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Abstract
The Kyoto agreement includes international trade in carbon permits from 2008. We have used a CGE model to evaluate methods of allocating permits within the UK. Auctioning is broadly similar to a carbon tax, with revenues recycled to reduce other distortions. 'Grandfathering' some permits free to large firms would mean a loss of recycling and, possibly, give windfall profits to foreigners. Alternatively, regularly revised allocation, using 'best practice' estimates, would be similar to recycling revenue as an output subsidy. Such a system could allow much of the potential 'double dividend' to be realised, though an auction system might still be preferable. (C) 2001 Elsevier Science B.V. All rights reserved.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HC Economic History and Conditions | ||||
Journal or Publication Title: | ENERGY ECONOMICS | ||||
Publisher: | ELSEVIER SCIENCE BV | ||||
ISSN: | 0140-9883 | ||||
Official Date: | July 2001 | ||||
Dates: |
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Volume: | 23 | ||||
Number: | 4 | ||||
Number of Pages: | 16 | ||||
Page Range: | pp. 371-386 | ||||
Publication Status: | Published |
Data sourced from Thomson Reuters' Web of Knowledge
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