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Leviathan carbon taxes in the short-run
A cap is imposed on the carbon tax rate if the total tax revenue is not allowed to increase. Using recent data on the carbon-intensity of the economy and the overall tax take, I show that this cap constrains almost any climate policy in at least some countries. A larger number of countries, emitting a substantial share of global carbon dioxide, cannot fully participate if the carbon tax (or equivalent alternative regulation) is high enough to meet the 2 °C target. For that target, the carbon tax revenue in 2020 is greater than 10 % of total tax revenue in every country.
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Publication status
- Published
Journal
Climatic ChangeISSN
0165-0009Publisher
Springer VerlagExternal DOI
Issue
2Volume
114Page range
409-415Department affiliated with
- Economics Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2013-03-15Usage metrics
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