{"title":"An Essay on a Real Option and Game-Theoretic Approach toward a Valuation of GHG Emission Rights in Climate Change","authors":"S. Taguchi","doi":"10.2139/ssrn.1413585","DOIUrl":"https://doi.org/10.2139/ssrn.1413585","url":null,"abstract":"The purpose of this paper is to consider a valuation of GHG emission rights, especially CERs from CDM projects with a real option and game-theoretic approach. There has been no study that tried to prove a valuation of them with a real option and game-theoretic approach. The following results were obtained: (1) In a CDM project, an underdeveloped country shirks in a project when a developed country will get all emission rights in the contract. (2) a value of CERs from CDM projects is affected by following factors: (a) a market price of emission rights, (b) the ratio of allocation of CERs between an underdeveloped country and a developed country in CDM contracts, (c) the ratio of the market share which an underdeveloped country gets from a developed country in other products markets because of know-how which an underdeveloped country gets in CDM projects, (d) initial costs of CDM projects which a developed country must pay, and (e) the probability that an underdeveloped country and a developed country get CERs when an underdeveloped country works hard in CDM projects.","PeriodicalId":133493,"journal":{"name":"SRPN: Other Pollution (Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126465750","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An Environmental Competition Statute","authors":"D. Driesen","doi":"10.1017/cbo9780511802591.009","DOIUrl":"https://doi.org/10.1017/cbo9780511802591.009","url":null,"abstract":"This chapter from a forthcoming Cambridge Press book, Beyond Environmental Law, proposes emulating free market dynamics with a new regulatory instrument, the Environmental Competition Statute. This statute would authorize any polluter making a pollution reduction to require a dirtier competitor to reimburse it for the full cost of making this improvement along with a preset profit margin. This creates an economic dynamic similar to that prevailing in very competitive markets. In such markets, those who innovate in effect take money from those who do not, by taking over a portion of their market share. This statute similarly allows environmental innovators to prosper at the expense of environmental laggards, thereby allowing environmental markets to function like other competitive markets. This proposal has the potential to encourage contests to improve environmental quality comparable to the ongoing competition to realize other sorts of improvements. It aims to allow the capabilities of innovators free reign in improving environmental quality. It makes it possible for anybody reducing pollution to realize a profit from doing so. It systematically externalizes pollution control costs, just as polluters now externalize the costs of pollution. In short, an Environmental Competition Statute encourages competition to improve the environment. This chapter discusses the problems with existing environmental law, including existing market mechanisms that this statute seeks to overcome. It provides a detailed description of a number of operation details. And it defends the idea against possible objections.","PeriodicalId":133493,"journal":{"name":"SRPN: Other Pollution (Topic)","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130666542","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Trans-Boundary Pollution and Brain Drain Migration","authors":"K. Kondoh","doi":"10.1111/j.1467-9361.2007.00408.x","DOIUrl":"https://doi.org/10.1111/j.1467-9361.2007.00408.x","url":null,"abstract":"The economic effects of international brain drain migration in the presence of trans-boundary pollution are analyzed. In autarky, both skilled and unskilled workers are expected to migrate from the less developed foreign country to the developed home country, if permitted. Surprisingly, under certain conditions, all workers, apart from skilled foreign ones, will gain (lose) from the migration of unskilled (skilled) foreign workers. Moreover, if skilled foreign workers are employed as unskilled domestic workers, then skilled foreign workers will gain but unskilled workers in both countries will lose. Whether or not skilled domestic workers will gain depends on the magnitude of the pollution spillover parameter. Brain drain migration persists under free trade if the demand for manufactured goods is strong.","PeriodicalId":133493,"journal":{"name":"SRPN: Other Pollution (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128392583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Reconsidering the Impact of Environment on Long-Run Growth When Pollution Influences Health and Agents Have Finite-Lifetime","authors":"X. Pautrel","doi":"10.2139/ssrn.912459","DOIUrl":"https://doi.org/10.2139/ssrn.912459","url":null,"abstract":"Using an overlapping generation model a la Blanchard (1985) with human capital accumulation, this article demonstrates that the influence of environment on optimal growth in the long-run may be explained by the detrimental effect of pollution on life expectancy. It also shows that, in such a case, greener preferences are growth- and welfare-improving even if the ability of the agents to learn is independent to pollution and utility is additively separable. Finally, it establishes that it is possible to implement a win-win environmental policy.","PeriodicalId":133493,"journal":{"name":"SRPN: Other Pollution (Topic)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130793629","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The General Equilibrium Incidence of Environmental Taxes","authors":"D. Fullerton, Garth Heutel","doi":"10.1016/J.JPUBECO.2006.07.004","DOIUrl":"https://doi.org/10.1016/J.JPUBECO.2006.07.004","url":null,"abstract":"","PeriodicalId":133493,"journal":{"name":"SRPN: Other Pollution (Topic)","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120275644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tarek M. Harchaoui, Dmitry Kabrelyan, Robert B. Smith
{"title":"Accounting for Greenhouse Gases in the Standard Productivity Framework","authors":"Tarek M. Harchaoui, Dmitry Kabrelyan, Robert B. Smith","doi":"10.2139/ssrn.1403283","DOIUrl":"https://doi.org/10.2139/ssrn.1403283","url":null,"abstract":"The method that Canada and other developed countries use to measure productivity growth generally ignores the pollutants that are produced by the industrial process. For example, greenhouse gas emissions, though an inevitable consequence of production processes, are excluded from the productivity accounting framework. This study proposes an extended productivity measure that takes pollutants into account. It illustrates how it can be applied using carbon dioxide emissions. The proposed experimental measure is based on the standard multifactor productivity framework adjusted for the private cost of greenhouse gas emissions. Using this measure changes the estimate of productivity growth for the business sector. The paper first examines how industries have reduced their CO2 emissions relative to their saleable outputs over the last twenty years. This improvement is a form of efficiency gain. When this is taken into account using the new experimental methodology to estimate multifactor productivity, the estimate of productivity growth that is produced is about 17 percent higher than the conventional estimate over the period from 1981-1996.","PeriodicalId":133493,"journal":{"name":"SRPN: Other Pollution (Topic)","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131970260","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Second-Best Pollution Taxes","authors":"D. Fullerton","doi":"10.3386/w5511","DOIUrl":"https://doi.org/10.3386/w5511","url":null,"abstract":"When government needs more revenue than is available from a pollution tax rate equal to marginal environmental damage, our intuition tells us to raise the tax on the clean good above zero and to raise the tax on the dirty good above that first-best Pigouvian rate. Yet new results suggest that the second-best pollution tax is below the Pigouvian rate. This note reconciles these views by pointing out that these new results use a labor tax to acquire additional revenue, and that the labor tax is equivalent to a uniform tax on both clean and dirty goods. Thus, depending on the normalization, the total tax on the dirty good can be above the Pigouvian rate. These recent results are meant to show that the difference between the tax on the dirty good and the tax on the clean good is less than the Pigouvian rate. Any one tax rate can be set to zero as a conceptual matter, but implementation of some taxes might be easier than others as a practical matter.","PeriodicalId":133493,"journal":{"name":"SRPN: Other Pollution (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1996-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134476650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Green Cities: Urban Growth and the Environment (Chapter One)","authors":"Matthew E. Kahn","doi":"10.2139/ssrn.933669","DOIUrl":"https://doi.org/10.2139/ssrn.933669","url":null,"abstract":"The Brookings Institution Press has just published my new book. This pdf presents the introduction of this book. Rapid urban growth and suburban sprawl have heightened concern in many quarters about sustainable development. Are economic growth and environmental health always mutually exclusive goals? Nearly everyone would choose to pursue both given the chance, but many believe that it would be overly optimistic - perhaps naive - to expect both. Green city proponents, however, do hope to realize both ambitions. What exactly is a green city? What does it mean to say that San Francisco is greener than Houston, or that Vancouver is a green city while Beijing is not? When does urban growth lower environmental quality, and when does it produce environmental gains? These are the questions that drive this smart and engaging book. In Green Cities, Matthew Kahn surveys the burgeoning economic literature on the environmental consequences of urban growth. He discusses the environmental Kuznets curve, which theorizes that the relationship between environmental quality and per capita income follows a bell-shaped curve. The heart of the book unpacks and expands this notion by tracing the environmental effects of economic growth, population growth, and suburban sprawl. Kahn considers how cities can deal with the environmental challenges produced by growth. His concluding chapter addresses the role of cities in promoting climate change and asks how cities in turn are likely to be affected by this trend. Kahn considers the evidence for and against rival perspectives throughout the book. Despite being labeled as purveyors of a dismal science, economists are often quite optimistic about the relationship between urban development and the environment. In contrast, many ecologists remain wary of the environmental consequences of free-market growth. Green Cities does not try to settle this dispute. Instead, it marshals data and arguments to convey the excitement of an ongoing debate, enabling readers to formulate well-informed opinions and priorities on this critically important issue.","PeriodicalId":133493,"journal":{"name":"SRPN: Other Pollution (Topic)","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126382373","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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