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| DOI | 10.1007/s10640-024-00863-0 |
| Democratic Climate Policies with Overlapping Generations | |
| 发表日期 | 2024 |
| ISSN | 0924-6460 |
| EISSN | 1573-1502 |
| 起始页码 | 87 |
| 结束页码 | 5 |
| 卷号 | 87期号:5 |
| 英文摘要 | An extensive climate policy literature provides various recommendations for mitigating climate change, but these recommendations are not supported democratically, since the models employed consider either infinitely-lived individuals or normative social objectives (or both). In contrast, the present paper provides policy recommendations capable of incorporating democratic processes. I develop an overlapping generation model with political process micro-foundations and show how democratic climate policies are interconnected with other democratic policies. Time inconsistent social objectives combined with commitment issues lead to an inefficient tax on capital accumulation and a climate policy below the efficient level; while suppressing the tax on capital accumulation generates a climate policy even further below the efficient level. I derive a novel politico-economic Keynes-Ramsey rule for the market interest rate, which is useful for calculating the climate policy level. I show that individual pure time preference, individual altruism toward descendants, and young generation political power are key determinants of democratic climate policy ambition. |
| 英文关键词 | Climate change; Discounting; Externality; Overlapping generations; Political economy; D6; D7; E6; Q5 |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics ; Environmental Sciences & Ecology |
| WOS类目 | Economics ; Environmental Studies |
| WOS记录号 | WOS:001194685200001 |
| 来源期刊 | ENVIRONMENTAL & RESOURCE ECONOMICS
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| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/286584 |
| 作者单位 | Swiss Federal Institutes of Technology Domain; ETH Zurich |
| 推荐引用方式 GB/T 7714 | . Democratic Climate Policies with Overlapping Generations[J],2024,87(5). |
| APA | (2024).Democratic Climate Policies with Overlapping Generations.ENVIRONMENTAL & RESOURCE ECONOMICS,87(5). |
| MLA | "Democratic Climate Policies with Overlapping Generations".ENVIRONMENTAL & RESOURCE ECONOMICS 87.5(2024). |
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