政策重叠的基于利率的排放交易：理论启示及其在中国的应用（英）
AI智能总结Policy Research Working Paper 10872, authored by Carolyn Fischer, Chenfei Qu, and Lawrence H. Goulder, delves into the intricacies of emissions trading systems (ETS) in jurisdictions that employ multiple environmental policies. The paper emphasizes the importance of understanding how these overlapping policies interact, particularly in the context of emissions trading systems, which aim to control pollution through market mechanisms.
Key Findings:
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Economic Interactions: Overlapping policies, such as subsidies for renewable energy and taxes on electricity, can significantly influence outcomes that might not be apparent when analyzing policies individually. These interactions impact emissions, allowance prices, and production levels.
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Analytical Model: The authors use an analytical model, specifically tailored for the electricity sector, to demonstrate that an overlapping subsidy for renewable energy decreases emission prices and expands output under various ETSs. However, the effect on emissions quantities differs under tradable performance standards (TPSs).
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Numerical General Equilibrium Model: A more detailed numerical model assesses the impacts of overlaps on emissions, production, prices, and costs in the context of China’s planned emissions trading system and alternative designs. The model reveals that overlaps in China’s current policy framework for 2020 to 2035 could reduce the cost per ton of abatement by 20-30%, with further savings possible through optimized renewable portfolio standards and a transition to uniform benchmarks for emitting power generators.
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Implications for Reforms: The paper underscores the necessity of considering both the choice of emissions trading systems and overlapping policies when implementing reforms aimed at reducing emissions. It suggests that while overlapping policies can sometimes reduce distortions and enhance cost-effectiveness, cap-and-trade systems without overlaps tend to be more cost-effective overall.
Conclusion:
The paper contributes to the understanding of how different emissions trading systems and overlapping policies can interact in complex ways, impacting environmental outcomes and economic efficiency. It highlights the importance of considering these dynamics in policy design, especially in contexts where multiple environmental policies are implemented simultaneously.
