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Abandoning fossil fuel: How fast and how much

Abstract:

Keeping climate change within limits requires that most of the available carbon‐based energy sources need to be abandoned underground. We study how fast and how much this transition to carbon‐free energy needs to occur within a welfare‐maximizing Ramsey growth model of climate change. Our model also addresses the market failure in the development of clean energy which leads to an under‐provision of renewable energy, delays the transition time to the carbon‐free era and reduces the amount of d...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

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Publisher copy:
10.1111/manc.12189

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Institution:
University of Oxford
Division:
Social Sciences Division
Department:
Economics
Oxford college:
New College
ORCID:
0000-0003-2340-4633
Publisher:
Wiley Publisher's website
Journal:
Manchester School Journal website
Volume:
85
Pages:
e16-e44
Publication date:
2017-04-10
Acceptance date:
2017-03-06
DOI:
EISSN:
1467-9957
ISSN:
1463-6786
Pubs id:
pubs:691377
URN:
uri:2f6ff216-febf-4dc0-8b73-dc4ff0460659
UUID:
uuid:2f6ff216-febf-4dc0-8b73-dc4ff0460659
Local pid:
pubs:691377

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