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A Comparison of Policy Instruments to Reduce Greenhouse Gas Emissions
Author(s) -
Freebairn John
Publication year - 2016
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/1759-3441.12141
Subject(s) - subsidy , redistribution (election) , greenhouse gas , emissions trading , revenue , distortion (music) , natural resource economics , economics , public economics , tax policy , environmental economics , business , tax reform , finance , engineering , market economy , amplifier , cmos , electronic engineering , politics , political science , law , ecology , biology
Tax, emission trading schemes, regulations and subsidy policy instruments to reduce Australian greenhouse gas emissions are assessed. Australian recent and proposed examples are used as illustrations. Comparative pollution reduction cost, tax interaction distortion costs, redistribution effects and operating cost properties are evaluated. A tax instrument with a comprehensive base, combined with recycling the revenue windfall to households, is argued to be a suitable guideline for future policy; some regulations to counter information and other market failures can be important complements.