This paper finds that it is optimal to start a long-term emission-reduction strategy with significant short-term abatement investment, even if the optimal carbon price starts low and grows progressively over time. Moreover, optimal marginal abatement investment costs differ across sectors of the economy. It may be preferable to spend 25 dollars to avoid the marginal ton of carbon in a sector where abatement capital is expensive, such as public transportation...
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INFORMATION
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2017/12/12
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Article de revue
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123223
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1
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1
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2018/02/14
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Disclosed
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When starting with the most expensive option makes sense : Optimal timing, cost and sectoral allocation of abatement investment
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carbon price
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