Bankability and Information in Pollution Policy
Bankability and Information in Pollution Policy
复制标题
污染政策中的银行可融资性和信息
DOI：
10.1086/708908
复制
发表时间：
2020
影响因子：
3.6
通讯作者：
Garth Heutel
中科院分区：
文献类型：
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作者：
Garth Heutel
我评估了可融资性和信息在环境政策设计中的作用。我开发了一个模型，证明价格政策和数量政策都可以允许银行和借贷。我比较了在有关不确定性和信息的几种不同情景下，有银行业务和没有银行业务的价格政策和数量政策之间的预期福利。可银行业务的政策可以通过平滑成本来提高效率，尽管它不一定比不允许银行业务的政策更有效。价格与数量以及可融资性与不可融资性的排名取决于边际成本和收益的斜率以及不确定性和信息的规范。
I assess the role of bankability and information in environmental policy design. I develop a model demonstrating that banking and borrowing can be allowed for a price policy as well as a quantity policy. I compare expected welfare between price and quantity policies, with and without banking, under several different scenarios regarding uncertainty and information. A bankable policy can provide an efficiency improvement by allowing for smoothing of costs, though it is not necessarily more efficient than a policy that does not allow banking. The ranking of prices versus quantities and of bankability versus nonbankability depends on both the slopes of marginal costs and benefits and on the specification of uncertainty and information.