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Preventing environmental disasters : Market based vs command and control policies

 

Notice

Type:   Working paper
 
Titre:   Preventing environmental disasters : Market based vs command and control policies
 
Auteur(s):   Lamperti, Francesco - Université Panthéon-Sorbonne - Paris 1 (UP1) (Auteur)
Napoletano, Mauro (1977-...) - Observatoire français des conjonctures économiques (Auteur)
Roventini, Andrea - Laboratory of Economics and Management (Auteur)
 
Date de publication:   2015-12
 
Éditeur:   Paris
 
Collection:   Working paper de l'OFCE  :  2015-31
 
Mots-clés:   [fr] Disasters [en] Environmental Policy, Command and Control, Carbon Taxes
 
JEL:   O33,  O4,  Q30,  Q56,  Q58
 
Résumé:   [en] The paper compares the effects of market-based and command-and-control climate policies on the direction of technical change and the prevention of environmental disasters. Drawing on the model proposed in Acemoglu et al. (2012, American Economic Review), we show that market-based policies (carbon taxes and subsidies towards clean sectors) exhibit bounded window of opportunities: delays in their implementation make them completely ine‚ective both in redirecting technical change and in avoiding environmental catastrophes. On the contrary, we find that command-and-control interventions guarantee policy ef‚effectiveness irrespectively on the timing of their introduction. As command-and-control policies are always able to direct technical change toward “green” technologies and to prevent climate disasters, they constitute a valuable alternative to market-based interventions.
 
URL:   http://www.ofce.sciences-po.fr/pdf/dtravail/WP2015-31.pdf
 
 

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Version de l'éditeur wp2015-31.pdf 0,67 MB