Optimal taxation of nonrenewable resources during clean energy transition: A general equilibrium approach

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dc.contributor.authorVardar, Nevzat Barış
dc.date.accessioned2024-05-30T06:49:00Z
dc.date.available2024-05-30T06:49:00Z
dc.date.issued2024en_US
dc.departmentFakülteler, İktisadi, İdari ve Sosyal Bilimler Fakültesi, Ekonomi Bölümüen_US
dc.description.abstractIn this paper we study clean energy transition in a modified version of the Ramsey growth model by including nonrenewable and renewable resources as well as pollution externalities. The main difference from previous works is that we consider imperfect substitution between nonrenewable and renewable resources. We characterize the social optimum and show that the economy converges to a clean state in the long run. We then study the decentralized equilibrium and show that the economy converges to the same state even without regulation, but with higher environmental damage. Further, we investigate the properties of the taxation trajectory that drives the laissez-faire economy to follow the optimal path and show that it can be either increasing or decreasing over time. We identify different channels that influence the path of optimal taxation and show that it depends, among other things, on the level of capital, the cost of renewable energy and the degree of substitution between renewable and nonrenewable resources.en_US
dc.identifier.citationVardar, N. B. (2024). Optimal taxation of nonrenewable resources during clean energy transition: A general equilibrium approach. Mathematical Social Sciences, 130, 10-23. 10.1016/j.mathsocsci.2024.05.002en_US
dc.identifier.endpage23en_US
dc.identifier.issn0165-4896
dc.identifier.scopus2-s2.0-85193429242
dc.identifier.scopusqualityQ2
dc.identifier.startpage10en_US
dc.identifier.urihttps://hdl.handle.net/20.500.12939/4711
dc.identifier.volume130en_US
dc.identifier.wosWOS:001272027500001
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthorVardar, Nevzat Barış
dc.language.isoen
dc.publisherElsevier B.V.en_US
dc.relation.ispartofMathematical Social Sciences
dc.relation.isversionof10.1016/j.mathsocsci.2024.05.002en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectEnergy transitionen_US
dc.subjectImperfect substitutionen_US
dc.subjectNonrenewable resourceen_US
dc.subjectOptimal taxationen_US
dc.subjectRenewable resourceen_US
dc.subjectSimultaneous resource useen_US
dc.titleOptimal taxation of nonrenewable resources during clean energy transition: A general equilibrium approach
dc.typeArticle

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