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dc.contributor.authorKotlikoff, Laurenceen_US
dc.contributor.authorKubler, Felixen_US
dc.contributor.authorPolbin, Andreyen_US
dc.contributor.authorSachs, Jeffreyen_US
dc.contributor.authorScheidegger, Simonen_US
dc.date.accessioned2021-04-27T17:31:23Z
dc.date.available2021-04-27T17:31:23Z
dc.date.issued2021-02
dc.identifier.citationLaurence Kotlikoff, Felix Kubler, Andrey Polbin, Jeffrey Sachs, Simon Scheidegger. 2021. "MAKING CARBON TAXATION A GENERATIONAL WIN WIN." International Economic Review, Volume 62, Issue 1, pp. 3 - 46. https://doi.org/10.1111/iere.12483
dc.identifier.issn0020-6598
dc.identifier.issn1468-2354
dc.identifier.urihttps://hdl.handle.net/2144/42421
dc.description.abstractCarbon taxation is mostly studied in social planner or infinitely lived-agent models, which obscure carbon taxation’s potential to produce a generational win win. This article’s large-scale, dynamic 55-period, overlap- ping generations model calculates the carbon tax policy delivering the highest uniform welfare gain to all current and future generations. Our model features coal, oil, and gas, increasing extraction costs, clean energy, technical and demographic change, and Nordhaus’ carbon/temperature/damage functions. Assuming high-end carbon damages, the optimal carbon tax is $70, rising annually at 1.5%. This policy raises all generations’ welfare by almost 5%. However, doing so requires major intergenerational redistribution.en_US
dc.description.sponsorshipCarbon taxation is mostly studied in social planner or infinitely lived-agent models, which obscure carbon taxation’s potential to produce a generational win win. This article’s large-scale, dynamic 55-period, overlapping generations model calculates the carbon tax policy delivering the highest uniform welfare gain to all current and future generations. Our model features coal, oil, and gas, increasing extraction costs, clean energy, technical and demographic change, and Nordhaus’ carbon/temperature/damage functions. Assuming high-end carbon damages, the optimal carbon tax is $70, rising annually at 1.5%. This policy raises all generations’ welfare by almost 5%. However, doing so requires major intergenerational redistribution.en_US
dc.description.urihttps://onlinelibrary.wiley.com/doi/abs/10.1111/iere.12483
dc.format.extentp. 3 - 46en_US
dc.languageen
dc.language.isoen_US
dc.publisherWileyen_US
dc.relation.ispartofInternational Economic Review
dc.rights© 2019 by Laurence J. Kotlikoff, Felix Kubler, Andrey Polbin, Jeffrey D. Sachs, and Simon Scheidegger. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source.en_US
dc.subjectEconomicsen_US
dc.titleMaking carbon taxation a generational win winen_US
dc.typeArticleen_US
dc.identifier.doi10.1111/iere.12483
pubs.elements-sourcecrossrefen_US
pubs.notesEmbargo: Not knownen_US
pubs.organisational-groupBoston Universityen_US
pubs.organisational-groupBoston University, College of Arts & Sciencesen_US
pubs.organisational-groupBoston University, College of Arts & Sciences, Department of Economicsen_US
pubs.publication-statusPublisheden_US
dc.date.online2020-09-18
dc.description.oaversionPublished version
dc.identifier.mycv571776


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