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1、GlobalCarbonCycleandtheOptimalTimePathofaCarbonTaxAuthor(s):Y.H.FarzinandO.TahvonenReviewedwork(s):Source:OxfordEconomicPapers,NewSeries,Vol.48,No.4(Oct.,1996),pp.515-536Publishedby:OxfordUniversityPressStableURL:http://www.jstor.org/stable/2663609.Accessed:13/12/201220:32YouruseoftheJSTORarchiveind
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4、ndConditionsOxfordEconomicPapers48(1996),515-536GLOBALCARBONCYCLEANDTHEOPTIMALTIMEPATHOFACARBONTAXByY.H.FARZIN*and0.TAHVONENt*DepartmentofAgriculturalandResourceEconomics,UniversityofCalifornia,Davis,CA95616,USAtFinnishForestResearchInstituteandHelsinkiSchoolofEconomicsTheexistingmodelsoffossilfuelc
5、onsumptionwithcarbonaccumulationimplythattheoptimaltimepathofcarbontaxiseitherhump-shapedormonotonicallydecreasing.Thesemodelsspecifythedecayofatmosphericcarbonasaconstantrateoftotalconcentration.Weextendthisspecificationtomoreaccuratelyreflecttheglobalcarboncyclemodelsofclimatologistsandshowthatthi
6、sextensionchangesthebasiceconomicpropertiesoftheoptimalcarbontax.Ouranalysisrevealsthattheoptimalcarbontaxmayaswellbeconstantthroughtime,increasemonotonically,orhaveaU-shape.Inaddition,optimalresourceextractionmayhaveanopen-close-opencycle.1.IntroductionTAXATIONofC02,theprincipalgreenhousegasemitted
7、fromburningoffossilfuels,hasbeenoftenproposedbyeconomistsasameanstocontrolglobalwarming.Andinthepastfewyears,theproposalhasbeenthefocusofintensedebatesinpolicymakingonbothsidesoftheAtlanticOcean.Howev
