nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2010‒05‒29
two papers chosen by
Karl Petrick
University of the West Indies

  1. Globalization By A.L. Keith Acheson
  2. The Challenges of Climate for Energy Markets By Timothy J. Brennan

  1. By: A.L. Keith Acheson (Department of Economics, Carleton University)
    Date: 2010–01–21
  2. By: Timothy J. Brennan (University of Maryland-Baltimore County)
    Abstract: Among the many complex issues of technology, governance, and market design affecting the electricity sector, climate policy has become dominant. From the perspective of a nonspecialist looking at this changing dominance, a quiz illuminates some of the peculiar uses of language one can find in climate change and energy efficiency policy. Six economic challenges are then examined: cap-and-trade vs. taxes, non-price regulations, energy efficiency policies, mitigation vs. adaptation, trade effects, and transmission planning. Three additional challenges affect not just the means to the climate policy end but also the end itself: the “fat tails†problem, discount rates, and whether environmental protection should be evaluated by aggregating willingness to pay across persons. Planners in the public and private sectors need to be aware of not only the economic policy challenges but also arguments that may influence the intensity of the climate policies with which they have to cope.
    Keywords: climate change, energy policy, electricity
    JEL: Q54 Q48 L94
    Date: 2009–09–01

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