The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Credible Carbon Policy
Abstract
The paper sets out the credibility problem in carbon policy, provides a number of examples of non-credibility in recent energy policy, and identifies the costs of failing to address it. The time inconsistency of carbon policy—arising because of multiple objectives, the irreversibility of energy investments, and the scope for ex-post reneging on ex-ante commitments to set policy instruments, such as carbon taxes or emission permits, at appropriate levels—is set in a conceptual framework. Analogies with monetary policy are drawn, and a solution to the time-inconsistency problem is proposed through the establishment of an energy/carbon agency.
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Citations
Cites
The Optimal Degree of Commitment to an Intermediate Monetary Target
Rogoff, K. (1985) · The Quarterly Journal of Economics · doi:10.2307/1885679 · Cited by 3,688
Cited by
Low‐carbon transition risks for finance
Semieniuk, G., Campiglio, E., Mercure, J., Volz, U., & Edwards, N. R. (2021) · WIREs Climate Change · doi:10.1002/wcc.678 · Cited by 441
Regulation by Prices, Quantities, or Both: A Review of Instrument Choice
Hepburn, C. (2006) · Oxford Review of Economic Policy · doi:10.1093/oxrep/grj014 · Cited by 416
Addressing climate change through price and non-price interventions
Stiglitz, J. E. (2019) · European Economic Review · doi:10.1016/j.euroecorev.2019.05.007 · Cited by 257
Carbon Trading: A Review of the Kyoto Mechanisms
Hepburn, C. (2007) · Annual Review of Environment and Resources · doi:10.1146/annurev.energy.32.053006.141203 · Cited by 256
(2023) · Climate Change 2022 - Mitigation of Climate Change · doi:10.1017/9781009157926.004 · Cited by 253
Metadata
- Authors
- Helm, D.
- Venue
- Oxford Review of Economic Policy
- Publisher
- Oxford University Press (OUP)
- Published
- 2003-09-01
- Volume
- 19
- Issue
- 3
- Pages
- 438-450
- ISSN
- 0266-903X (ISSN-L)
- 1460-2121
- OpenAlex
- W2150225301
- Cited by
- 217
- References
- 1
- FWCI
- 7.16
- Type
- journal article
- Language
- en
- Open access
- closed
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
