文章基本信息

标题：Managing Permit Markets to Stabilize Prices
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作者：Newell, Richard G. ; Pizer, William A. ; Zhang, Jiangfeng 等
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2003
期号：SUPPL
出版社：Food Distribution Research Society
摘要：The political economy of environmental policy favors the use of quantity-based instruments over price-based instruments (e.g., tradable permits over green taxes), at least in the United States. With cost uncertainty, however, there are clear efficiency advantages to prices in many cases, especially for stock pollutants such as greenhouse gases. The question arises, therefore, of whether one can design flexible quantity policies that mimic the behavior of price policies, namely stable permit prices and abatement costs. We explore a number of "quantity-plus" policies that replicate the behavior of a price policy through rules that adjust the effective permit cap for unexpectedly low or high costs. They do so without necessitating any monetary exchanges between the government and the regulated firms, which can be a significant political barrier to the use of price instruments.
关键词：tradable permit market;prices;quantities;banking;borrowing;uncertainty