Second-best analysis of European energy policy : is one bird in the hand worth two in the bush?


Hübler, Michael ; Schenker, Oliver ; Fischer, Carolyn


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URL: https://ub-madoc.bib.uni-mannheim.de/40162
URN: urn:nbn:de:bsz:180-madoc-401625
Document Type: Working paper
Year of publication: 2015
The title of a journal, publication series: ZEW Discussion Papers
Volume: 15-079
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: C61 , O33 , Q48 , Q54 , Q55,
Keywords (English): Second-best , climate policy , energy policy , feed-in tariff , power sector , EU
Abstract: This paper studies policy instruments that correct insufficient learning-by-doing(LbD) and research and development (R&D) of renewable electricity technologies and insufficient investments in energy efficiency (EE) in the presence of carbon pricing. The theoretical model analysis shows how to re-adjust the first-best in second-best situations, in which one of the policy instruments is restricted. Calibrated to the European power sector, the first-best choice of all instruments reduces the climate policy cost by one third. Feed-in tariffs turn out to be good substitutes for LbD, but not for R&D or EE subsidies.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Hübler, Michael ; Schenker, Oliver ; Fischer, Carolyn (2015) Second-best analysis of European energy policy : is one bird in the hand worth two in the bush? Open Access ZEW Discussion Papers Mannheim 15-079 [Working paper]
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