Environmental economics: theory and policy in equilibrium
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| Format: | Book |
| Language: | English |
| Published: |
Cham
Springer
[2022]
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| Edition: | Second edition |
| Series: | Springer texts in business and economics
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | xxi, 334 Seiten Illustrationen |
| ISBN: | 9783031059285 |
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| adam_text | Contents 1 Introduction.................................................................................................... 1 1.1 Ecology and Economy: Unequal Partners?................................... 1 1.1.1 Environmental Economies....................................................... 4 1.1.2 Ecological Economies............................................................. 5 1.1.3 Why is Theory Needed in a Practical Environmental Context? 7 1.2 Survey of the Book............................................................................... 8 References...................................................................................................... 13 Part I The Environmental Movement 2 Differing Views on the Environment.......................................................... 2.1 The Europeans and the Environment.... . . ........................................... 2.1.1 Attitudes Towards the Environment in Europe...................... 2.1.2 Conclusions for Environmental Economics............................ 2.2 The Environmental Movement in the U.S............................................ 2.3 Emerging Markets and the Environment.............................................. 2.3.1 China and the Environment...................................................... 2.3.2 India and the Environment ...................................................... 2.4 Attitudes Towards the Environment: A Summary.............................. References...................................................................................................... 17 17 19 22 23 27 28 30 32
33 3 The International Dimension of the Environment.................................. 3.1 International Environmental Issues ...................................................... 3.1.1 Global Environmental Commodities....................................... 3.1.2 Consequences of Globalization................................................ 3.1.3 The Environment and International Trade.............................. 3.2 International Conferences and Environmental Agreements.............. 3.2.1 The United Nations Conference on Environment and Development (UNCED)............................................... 43 3.2.2 The United Nations Framework Convention on Climate Change (UNFCCC).......... 48 37 37 38 40 42 43 vii
viii Contents 3.2.3 The Kyoto Protocol .................................................................. 49 3.2.4 Copenhagen, Paris, Glasgow and ... ?.................................... 51 References....................................................................................................... 55 Part II Theoretical Environmental Economics 4 5 Basics of Environmental Economics........................................................... 4.1 Fundamental Concepts.......................................................................... 4.1.1 Environmental Awareness and Perceived Scarcity................ 4.1.2 Environmental Commoditiesand Allocation Problems......... 4.2 Efficiency as a Normative Criterion for Environmental Economics . 4.2.1 Economic Efficiency and the Environment: Theory.............. 4.2.2 Economic Efficiency and the Environment: Applications ... References....................................................................................................... * Allocation Problems in a Market Economy.............................................. 5.1 Efficient Equilibrium Allocations ........................................................ 5.1.1 The Model Economy .......................................................... 5.1.2 Market Equilibrium.................................................................. 5.2 Environmental Effects in a Market Economy...................................... 5.2.1 The Concept of an External Effect.......................................... 5.2.2 Analysis of an
Externality........................................................ 5.2.3 Market Equilibrium with External Effects.............................. 5.3 Public Commodities in Environmental Economics ............................ 5.3.1 The Prisoners’Dilemma in an Environmental Context........ 5.3.2 The Prisoners’ Dilemma and International Efforts to Mitigate Climate Change............................................. 89 5.3.3 The Tragedy of the Commons......................... References....................................................................................................... 61 61 62 63 65 65 66 68 71 71 71 74 77 77 79 81 85 86 93 94 6 The Internalization of External Effects..................................................... 97 6.1 External Effects and Missing Markets................................................. 97 6.1.1 Supplementing the Market System.......................................... 99 6.2 The Pigou Tax........................................................................................ 104 6.3 Firm-Specific Prices for an Environmental Commodity..................... 108 6.4 Tradeable Emission Certificates ........................................................... 110 6.5 Pollution Rights.............................................................. 112 6.6 The Coase Theorem.......................................................................... ..118 References......................................................................................................... 121 7 Public Goods in Environmental
Economics................................................ 123 7.1 The Lindahl Mechanism............................................................... 123 7.1.1 The Concept of a Lindahl Equilibrium .................................... 123 7.1.2 Lindahl Equilibrium and Incentive Compatibility .................. 126 7.2 Core Equivalence in a Public Goods Economy.................................... 128 7.2.1 The Core of an Economy with a Public Good.......................... 128
Contents ix 7.2.2 The Cost-Share Equilibrium..................................................... 131 7.2.3 Core Equivalence and Cost-Share Equilibria .......................... 134 7.3 Implications for International Negotiations on Mitigating Climate Change...........................................................................................137 7.3.1 The Kyoto Protocol ................................................................... 137 7.3.2 The Paris Agreement................................................................. 139 7.3.3 The Glasgow Climate Pact ....................................................... 140 7.3.4 Beyond Kyoto, Paris and Glasgow........................................... 142 References........................................................................................................ 143 Part ili Environmental Policy 8 From Theory to Policy: Information Deficits ........................................... 147 8.1 Informational Requirements Regarding the Structure of the Markets 147 8.1.1 The Competition-Price Mechanism......................................... 149 8.2 Information Deficits in International Environmental Policy...............151 8.3 Information Deficits Regarding Hazardous Materials and Processes. 153 8.4 Consequences for Environmental Policy............................................... 155 References .........................................................................................................158 9 Command-and-Control Policy..................................................................... 161 9.1
Environmental Standards and Framework Conditions..........................161 9.1.1 Standards in Economic Systems............................................... 162 9.1.2 Ecological Efficiency of Standards: Examples........................ 163 9.1.3 Framework Conditions, Standards and the Private Finance Initiative .................. 165 9.2 The Refillables Quota Issue....................... 166 9.2.1 Facts and Developments Regarding Refillable Packaging ... 166 9.2.2 The Refillables Quota Issue and the German Packaging Legislation...................................................................... 169 9.3 Economic Feasibility of an Environmental Policy............................... 171 9.3.1 The Concept of Economic Feasibility .......................................172 9.3.2 Economic Feasibility: A Formal Analysis................................. 173 9.3.3 Economic Feasibility in a Practical Context............................. 179 References.............................................................................................. 180 10 The Price-Standard Approach to Environmental Policy........................ 183 10.1 Market-Oriented Environmental Policies............................................ 183 10.2 Pollution Tax......................................................................................... 185 10.2.1 Relevant Features of the Pollution Tax..................... 185 10.2.2 Cost Efficiency of the Pollution Tax......................................... 187 10.2.3 Cost Efficiency with Spatial Differentiation ............................189 10.3
Ecotaxes................................................................................................. 192 10.3.1 Aspects of an Ecotax................................................................. 192 10.3.2 Theoretical Considerations Regarding an Ecotax.................... 193 10.3.3 The Ecological Tax Reform in Germany........ . ....................... 194
Contents x 10.4 Tradeable Emission Certificates .............. 196 10.4.1 Relevant Features of Markets for Tradeable Certificates .... 196 10.4.2 Emission-Oriented and Immission-Oriented Trading Schemes...........................................................................198 10.5 Experiences with Markets for Tradeable Certificates............ ..........201 10.5.1 The EU Emission Trading System (EU ETS)......................... 201 10.5.2 A Critical Assessment of the EU ETS..................................... 203 10.5.3 The U.S. Cap and Trade Policy................................................. 205 10.5.4 Cap and Trade Policies in Other Parts of the World.............. 206 References.........................................................................................................208 11 International Environmental Commodities and the PrincipalAgent-Approach ..................................................................................... 211 11.1 International Environmental Agreements............................................. 211 11.2 The Principal-Agent Problem in Environmental Policy ..................... 213 11.2.1 The Role of Mitigation Strategies............................................. 214 11.2.2 The Role of Adaptation Strategies........................................... 220 References......................................... 223 12 Holistic Environmental Policies.............. .....................................................225 12.1 Holistic Policies: Motivation................................................................. 225 12.2
Extended Producer Responsibility (EPR)............................................. 227 12.3 The EPR Principle in Practice............................................................... 228 12.3.1 Global Experience with the EPR Principle............................. 228 12.3.2 Practical Example: WEEE Regulations in the EU and Germany.........................................................................230 12.4 Integrated Environmental Policies (IEP)............................................... 235 12.4.1 Integrated Waste Management(IWM).......................................235 12.4.2 Constitutive Elements of Integrated Environmental Policies (IEP)................................................................. 237 12.5 The Circular Economy - An Outlook................................. 239 12.5.1 The Concept of a Circular Economy ....................................... 239 12.5.2 Packaging Waste in Germany................................................... 241 References ......................................................................................................... 246 Part IV The Environment in the Globalized World 13 Trade and the Environment: The Legal Context.................................. 253 13.1 The Framework Conditions for International Trade............................. 253 13.2 Environmental Aspects of the GATT and the WTO........................... 257 13.3 Regional Trade Agreements ....................................................................260 13.3.1 The Environmental Policy of the EU........................................260 13.3.2
United States-Mexico-Canada Agreement (USMCA)............263 13.4 Strategic Considerations: The Example of the Climate Club............ 264 References......................................................................................................... 266
Contents xi 14 Overfishing..................................................................................................... 269 14.1 The State of Fishery Resources.............................................................269 14.2 Short-Run Supply of the Fisheries......................................................... 272 14.2.1 Interdependence of Fisheries..................................................... 272 14.2.2 Short-Run Supply and Fixed-Stock Equilibrium..................... 274 14.3 Integration of Economic and Biological Aspects................................. 278 14.3.1 A Biological Growth Process................................................... 278 14.3.2 The Bioeconomic Equilibrium ................................................. 280 14.4 The Market Equilibrium.........................................................................283 14.5 Conclusions from the Formal Analysis................................................. 287 14.5.1 An Analysis of Externalities in the Fishing Industry ....... 287 14.5.2 Attempts to Internalize Externalities in Fisheries................... 289 14.5.3 Quota Management Systems..................................................... 290 14.6 Fisheries Policies.................................................................................... 293 14.6.1 Subsidies in the Fishing Industry. The Legal Background... 293 14.6.2 Evaluating the Common Fisheries Policy of the EU........ . 296 14.6.3 A Glance at the U.S. Fisheries Policy....................................... 300 14.7 Overfishing: A
Summary.......................................................................303 References .. ..................................................................................................... 304 15 Integration of Trade and the Environment............................................... 307 15.1 Trade and Environment - “Genuine Problems”................................... 307 15.2 Trade and the Environment: A Formal Approach ................................309 15.2.1 The Model............................................. ......................... .....309 15.2.2 Autarky Equilibrium ................................................................. 312 15.2.3 Free Trade Equilibrium........ ................................................ 315 15.3 Trade and the Environment: The FormalIntegration........................... 318 15.3.1 From Autarky to Free Trade..................................................... 318 15.3.2 Harmonizing EnvironmentalStandards . . . ............................... 320 15.4 Regulation............................................................................................. 322 15.5 Stackelberg Equilibrium....................................................................... 323 15.6 Integrating Trade and the Environment: ASummary......................... 326 References..................................................... ................................................. 327 Index........................................................................................................................ 329
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| adam_txt |
Contents 1 Introduction. 1 1.1 Ecology and Economy: Unequal Partners?. 1 1.1.1 Environmental Economies. 4 1.1.2 Ecological Economies. 5 1.1.3 Why is Theory Needed in a Practical Environmental Context? 7 1.2 Survey of the Book. 8 References. 13 Part I The Environmental Movement 2 Differing Views on the Environment. 2.1 The Europeans and the Environment. . . . 2.1.1 Attitudes Towards the Environment in Europe. 2.1.2 Conclusions for Environmental Economics. 2.2 The Environmental Movement in the U.S. 2.3 Emerging Markets and the Environment. 2.3.1 China and the Environment. 2.3.2 India and the Environment . 2.4 Attitudes Towards the Environment: A Summary. References. 17 17 19 22 23 27 28 30 32
33 3 The International Dimension of the Environment. 3.1 International Environmental Issues . 3.1.1 Global Environmental Commodities. 3.1.2 Consequences of Globalization. 3.1.3 The Environment and International Trade. 3.2 International Conferences and Environmental Agreements. 3.2.1 The United Nations Conference on Environment and Development (UNCED). 43 3.2.2 The United Nations Framework Convention on Climate Change (UNFCCC). 48 37 37 38 40 42 43 vii
viii Contents 3.2.3 The Kyoto Protocol . 49 3.2.4 Copenhagen, Paris, Glasgow and . ?. 51 References. 55 Part II Theoretical Environmental Economics 4 5 Basics of Environmental Economics. 4.1 Fundamental Concepts. 4.1.1 Environmental Awareness and Perceived Scarcity. 4.1.2 Environmental Commoditiesand Allocation Problems. 4.2 Efficiency as a Normative Criterion for Environmental Economics . 4.2.1 Economic Efficiency and the Environment: Theory. 4.2.2 Economic Efficiency and the Environment: Applications . References. * Allocation Problems in a Market Economy. 5.1 Efficient Equilibrium Allocations . 5.1.1 The Model Economy . 5.1.2 Market Equilibrium. 5.2 Environmental Effects in a Market Economy. 5.2.1 The Concept of an External Effect. 5.2.2 Analysis of an
Externality. 5.2.3 Market Equilibrium with External Effects. 5.3 Public Commodities in Environmental Economics . 5.3.1 The Prisoners’Dilemma in an Environmental Context. 5.3.2 The Prisoners’ Dilemma and International Efforts to Mitigate Climate Change. 89 5.3.3 The Tragedy of the Commons. References. 61 61 62 63 65 65 66 68 71 71 71 74 77 77 79 81 85 86 93 94 6 The Internalization of External Effects. 97 6.1 External Effects and Missing Markets. 97 6.1.1 Supplementing the Market System. 99 6.2 The Pigou Tax. 104 6.3 Firm-Specific Prices for an Environmental Commodity. 108 6.4 Tradeable Emission Certificates . 110 6.5 Pollution Rights. 112 6.6 The Coase Theorem. .118 References. 121 7 Public Goods in Environmental
Economics. 123 7.1 The Lindahl Mechanism. 123 7.1.1 The Concept of a Lindahl Equilibrium . 123 7.1.2 Lindahl Equilibrium and Incentive Compatibility . 126 7.2 Core Equivalence in a Public Goods Economy. 128 7.2.1 The Core of an Economy with a Public Good. 128
Contents ix 7.2.2 The Cost-Share Equilibrium. 131 7.2.3 Core Equivalence and Cost-Share Equilibria . 134 7.3 Implications for International Negotiations on Mitigating Climate Change.137 7.3.1 The Kyoto Protocol . 137 7.3.2 The Paris Agreement. 139 7.3.3 The Glasgow Climate Pact . 140 7.3.4 Beyond Kyoto, Paris and Glasgow. 142 References. 143 Part ili Environmental Policy 8 From Theory to Policy: Information Deficits . 147 8.1 Informational Requirements Regarding the Structure of the Markets 147 8.1.1 The Competition-Price Mechanism. 149 8.2 Information Deficits in International Environmental Policy.151 8.3 Information Deficits Regarding Hazardous Materials and Processes. 153 8.4 Consequences for Environmental Policy. 155 References .158 9 Command-and-Control Policy. 161 9.1
Environmental Standards and Framework Conditions.161 9.1.1 Standards in Economic Systems. 162 9.1.2 Ecological Efficiency of Standards: Examples. 163 9.1.3 Framework Conditions, Standards and the Private Finance Initiative . 165 9.2 The Refillables Quota Issue. 166 9.2.1 Facts and Developments Regarding Refillable Packaging . 166 9.2.2 The Refillables Quota Issue and the German Packaging Legislation. 169 9.3 Economic Feasibility of an Environmental Policy. 171 9.3.1 The Concept of Economic Feasibility .172 9.3.2 Economic Feasibility: A Formal Analysis. 173 9.3.3 Economic Feasibility in a Practical Context. 179 References. 180 10 The Price-Standard Approach to Environmental Policy. 183 10.1 Market-Oriented Environmental Policies. 183 10.2 Pollution Tax. 185 10.2.1 Relevant Features of the Pollution Tax. 185 10.2.2 Cost Efficiency of the Pollution Tax. 187 10.2.3 Cost Efficiency with Spatial Differentiation .189 10.3
Ecotaxes. 192 10.3.1 Aspects of an Ecotax. 192 10.3.2 Theoretical Considerations Regarding an Ecotax. 193 10.3.3 The Ecological Tax Reform in Germany. . . 194
Contents x 10.4 Tradeable Emission Certificates . 196 10.4.1 Relevant Features of Markets for Tradeable Certificates . 196 10.4.2 Emission-Oriented and Immission-Oriented Trading Schemes.198 10.5 Experiences with Markets for Tradeable Certificates. .201 10.5.1 The EU Emission Trading System (EU ETS). 201 10.5.2 A Critical Assessment of the EU ETS. 203 10.5.3 The U.S. Cap and Trade Policy. 205 10.5.4 Cap and Trade Policies in Other Parts of the World. 206 References.208 11 International Environmental Commodities and the PrincipalAgent-Approach . 211 11.1 International Environmental Agreements. 211 11.2 The Principal-Agent Problem in Environmental Policy . 213 11.2.1 The Role of Mitigation Strategies. 214 11.2.2 The Role of Adaptation Strategies. 220 References. 223 12 Holistic Environmental Policies. .225 12.1 Holistic Policies: Motivation. 225 12.2
Extended Producer Responsibility (EPR). 227 12.3 The EPR Principle in Practice. 228 12.3.1 Global Experience with the EPR Principle. 228 12.3.2 Practical Example: WEEE Regulations in the EU and Germany.230 12.4 Integrated Environmental Policies (IEP). 235 12.4.1 Integrated Waste Management(IWM).235 12.4.2 Constitutive Elements of Integrated Environmental Policies (IEP). 237 12.5 The Circular Economy - An Outlook. 239 12.5.1 The Concept of a Circular Economy . 239 12.5.2 Packaging Waste in Germany. 241 References . 246 Part IV The Environment in the Globalized World 13 Trade and the Environment: The Legal Context. 253 13.1 The Framework Conditions for International Trade. 253 13.2 Environmental Aspects of the GATT and the WTO. 257 13.3 Regional Trade Agreements .260 13.3.1 The Environmental Policy of the EU.260 13.3.2
United States-Mexico-Canada Agreement (USMCA).263 13.4 Strategic Considerations: The Example of the Climate Club. 264 References. 266
Contents xi 14 Overfishing. 269 14.1 The State of Fishery Resources.269 14.2 Short-Run Supply of the Fisheries. 272 14.2.1 Interdependence of Fisheries. 272 14.2.2 Short-Run Supply and Fixed-Stock Equilibrium. 274 14.3 Integration of Economic and Biological Aspects. 278 14.3.1 A Biological Growth Process. 278 14.3.2 The Bioeconomic Equilibrium . 280 14.4 The Market Equilibrium.283 14.5 Conclusions from the Formal Analysis. 287 14.5.1 An Analysis of Externalities in the Fishing Industry . 287 14.5.2 Attempts to Internalize Externalities in Fisheries. 289 14.5.3 Quota Management Systems. 290 14.6 Fisheries Policies. 293 14.6.1 Subsidies in the Fishing Industry. The Legal Background. 293 14.6.2 Evaluating the Common Fisheries Policy of the EU. . 296 14.6.3 A Glance at the U.S. Fisheries Policy. 300 14.7 Overfishing: A
Summary.303 References . . 304 15 Integration of Trade and the Environment. 307 15.1 Trade and Environment - “Genuine Problems”. 307 15.2 Trade and the Environment: A Formal Approach .309 15.2.1 The Model. . .309 15.2.2 Autarky Equilibrium . 312 15.2.3 Free Trade Equilibrium. . 315 15.3 Trade and the Environment: The FormalIntegration. 318 15.3.1 From Autarky to Free Trade. 318 15.3.2 Harmonizing EnvironmentalStandards . . . . 320 15.4 Regulation. 322 15.5 Stackelberg Equilibrium. 323 15.6 Integrating Trade and the Environment: ASummary. 326 References. . 327 Index. 329 |
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| spelling | Wiesmeth, Hans 1950- Verfasser (DE-588)109432703 aut Environmental economics theory and policy in equilibrium Hans Wiesmeth Second edition Cham Springer [2022] xxi, 334 Seiten Illustrationen txt rdacontent n rdamedia nc rdacarrier Springer texts in business and economics Umweltökonomie (DE-588)4061638-1 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Umweltökonomie (DE-588)4061638-1 s b DE-604 Erscheint auch als Online-Ausgabe 978-3-031-05929-2 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033670330&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Wiesmeth, Hans 1950- Environmental economics theory and policy in equilibrium Umweltökonomie (DE-588)4061638-1 gnd |
| subject_GND | (DE-588)4061638-1 (DE-588)4123623-3 |
| title | Environmental economics theory and policy in equilibrium |
| title_auth | Environmental economics theory and policy in equilibrium |
| title_exact_search | Environmental economics theory and policy in equilibrium |
| title_exact_search_txtP | Environmental economics theory and policy in equilibrium |
| title_full | Environmental economics theory and policy in equilibrium Hans Wiesmeth |
| title_fullStr | Environmental economics theory and policy in equilibrium Hans Wiesmeth |
| title_full_unstemmed | Environmental economics theory and policy in equilibrium Hans Wiesmeth |
| title_short | Environmental economics |
| title_sort | environmental economics theory and policy in equilibrium |
| title_sub | theory and policy in equilibrium |
| topic | Umweltökonomie (DE-588)4061638-1 gnd |
| topic_facet | Umweltökonomie Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033670330&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT wiesmethhans environmentaleconomicstheoryandpolicyinequilibrium |