Announcing is bad, delaying is worse: Another pitfall in well-intended climate policy

It is frequently observed that the implementation of green policies is delayed compared to the initial announcement. Considering a setting with a representative monopolist extracting a non-renewable resource, we demonstrate that announcing a green policy, but then delaying its implementation, is associated with a larger cumulative extraction at any point in time than announcing a late implementation of this policy at the outset.

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Year of publication:	2012
Authors:	Jus, Darko ; Meier, Volker
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	Klimaschutz \| Ökosteuer \| Ankündigungseffekt \| Erschöpfbare Ressourcen \| Kontrolltheorie \| Theorie \| climate policy \| carbon taxation \| Kyoto Protocol \| optimal control

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Series:	CESifo Working Paper ; 3844
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	720579384 [GVK] hdl:10419/60996 [Handle]
Classification:	D92 - Intertemporal Firm Choice and Growth, Investment, or Financing ; H23 - Externalities; Redistributive Effects ; Environmental Taxes and Subsidies ; K32 - Environmental, Health, and Safety Law ; Q32 - Exhaustible Resources and Economic Development ; Q38 - Government Policy
Source:	EconStor

Persistent link: https://www.econbiz.de/10010283580