Abandoning fossil fuel : how fast and how much ?

Abandoning fossil fuel : how fast and how much ? / Armon Rezai and Frederick van der Ploeg. Oxford : Oxford Centre for the Analysis of Resource Rich Economies, September 2013, 40 p. (OxCarre Research Paper 123)

http://d.repec.org/n?u=RePEc:oxf:wpaper:oxcarre-research-paper-123&r=ene

Authors’s abstract :

Climate change must deal with two market failures, global warming and learning by doing in renewable use. The social optimum requires an aggressive renewables subsidy in the near term and a gradually rising carbon tax which falls in long run. As a result, more renewables are used relative to fossil fuel, there is an intermediate phase of simultaneous use, the carbon- free era is brought forward, more fossil fuel is locked up and global warming is lower. The optimal carbon tax is not a fixed proportion of world GDP. The climate externality is more severe than the learning by doing one.

Danièle Revel

Voir tous les articles