Cap-and-Trade and Carbon Tax Meet Arrow–Debreu

IF 6.6 1区经济学 Q1 ECONOMICS

Econometrica Pub Date : 2025-03-29 DOI:10.3982/ECTA22923

Robert M. Anderson, Haosui Duanmu

引用次数: 0

Abstract

We propose two general equilibrium models, quota equilibrium, and emission tax equilibrium. Government specifies quotas or taxes on emissions, and then refrains from further action. All results remain valid regardless of how government chooses its emissions target. Quota equilibrium exists; the allocation of emission property rights impacts the distribution of welfare. If the only externality arises from total net emissions, quota equilibrium is Pareto optimal among all feasible outcomes with the same total net emissions. For certain tax rates, emission tax equilibrium may not exist. Every quota equilibrium can be realized as an emission tax equilibrium and vice versa. However, different quota prices may arise in equilibrium from a single quota, and different emission levels may arise in equilibrium from a single tax rate. This leads to inequivalence between quota and emission tax equilibria.

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限额交易和碳税与阿罗-德布鲁会面

本文提出了两种一般均衡模型：配额均衡和排放税均衡。政府规定了排放配额或税收，然后不再采取进一步行动。无论政府如何选择排放目标，所有结果都是有效的。配额均衡存在；排污产权的配置影响着福利的分配。如果唯一的外部性来自净排放总量，那么在净排放总量相同的所有可行结果中，配额均衡是帕累托最优的。对于某些税率，排放税均衡可能不存在。每一个配额均衡都可以实现为排放税均衡，反之亦然。然而，单一配额可能均衡地产生不同的配额价格，单一税率可能均衡地产生不同的排放水平。这导致配额和排放税平衡之间的不平等。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Econometrica 社会科学-数学跨学科应用

CiteScore

11.00

自引率

3.30%

发文量

审稿时长

6-12 weeks

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