Optimal Sequestration Policy with a Ceiling on the Stock of Carbon in the Atmosphere
Optimal Sequestration Policy with a Ceiling on the Stock of Carbon in the Atmosphere
This chapter is concerned with the optimal sequestration of carbon emissions. It analyzes a sequestration policy that implements a ceiling on the stock of carbon in the atmosphere. It also discusses the standard Hotelling model of exhaustion and then presents a simple test of the optimality of sequestration for relaxing the ceiling constraint. Finally, the chapter describes the testing of the optimality of the sequestration opportunity in the case of a rare renewable substitute.
Keywords: sequestration, carbon emissions, carbon, sequestration policy, Hotelling model, ceiling, renewable substitute
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