Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Climate policy and distribution Location: Auditorium I Session Chair: Inge van den Bijgaart, Utrecht University | |
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Overcoming the climate policy dilemma: The role of debt and redistribution under intergenerational borrowing constraints 1: PIK Potsdam, Germany; 2: University of Potsdam, Germany In this article, we investigate the role of borrowing constraints in the context of climate policy. We improve our understanding of how income and support for climate policy are interrelated in a two-period model of two dynastic agents with different income levels. Binding borrowing constraints reduce preferred levels of carbon emission mitigation. They alone can account for positive yet inefficiently low levels of climate policy. With our analysis, we highlight the importance of the climate policy dilemma – the long time horizon between the bulk of cost and benefits of climate policy – in a setting where all agents are intergenerational altruists. We thus provide an alternative to the canonical overlapping generations model that assumes agents to be (intergenerationally) egoistic in order to explain inefficiently low climate policy. Furthermore, we show how public debt and redistributive tax policies can help raising the ambition level of climate policy and provide conditions for which these transfer schemes are Pareto-improving. | |