The Green Paradox Revisited - Carbon Taxes, Oil Monopoly and Petrodollar Recycling

摘要

1. Announced climate policy induces adjustment of resource extractionand savings.2. Combined with the monopolist's asset motive this poses an incentiveto postpone extraction.3. Carbon tax is a viable policy option for many reasonable parametersettings.4. Reversal is more likely for4.1 higher resource endowment (lower relative resource scarcity)4.2 lower capital endowment4.3 higher impatience (lower discount factor β).