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The Design of Climate Policy$
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Roger Guesnerie and Henry Tulkens

Print publication date: 2008

Print ISBN-13: 9780262073028

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262073028.001.0001

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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

Chapter:
(p.273) 14 Optimal Sequestration Policy with a Ceiling on the Stock of Carbon in the Atmosphere
Source:
The Design of Climate Policy
Author(s):

Gilles Lafforgue

Bertrand Magné

Michel Moreaux

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262073028.003.0014

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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