L’article « Tradable pollution permits in dynamic general equilibrium : Can optimality and acceptability be reconciled? » de Thierry Bréchet, Pierre-André Jouvet et Gilles Rotillon, est publié dans Ecological Economics, volume 91, Juillet 2013, pages 89–97.
Abstract :
In this paper we study the dynamic general equilibrium path of an economy and the associated optimal growth path in a two-sector overlapping generation model with a stock pollutant. A sector (power generation) is polluting, and the other (final good) is not. Pollution is regulated by tradable emission permits. The issue is to see whether the optimal growth path can be replicated in equilibrium with pollution permits, given that some permits must be issued free of charge for the sake of political acceptability. We first analyze the many adverse impacts of free allowances, and then we propose a policy rule that allows optimality and acceptability to be reconciled.
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(Article disponible en version anglaise uniquement)