Individual and Firm Taxation in a CO$$_2$$ Emitting Economy
研究在二氧化碳排放经济中，如何通过个人和企业税收实现社会最优，发现企业税足以达到最优排放水平，但消费的代际公平还需年龄特定个人税。
Abstract Typical problems of negative effects of CO $$_{2}$$ emissions are that (i) they are suffered and generated not by the same agent and that (ii) individuals consider them as too small to influence the aggregated effect. Additionally, only little is known about how the behavior depends on the age-composition of a population and individual age-dependent life-cycle effects. We address these issues by an overlapping generations (OLG) structured population and a firm sector producing a homogeneous final consumption good. While firms generate CO $$_{2}$$ emission during the production process, individuals suffer from the aggregated effect. We analyze the difference between the decentralized market and the social welfare solution and study to which extent social optimality can be attained with different taxes on individual consumption and/or production. We find that firm taxation is always sufficient to reach the socially optimal level of CO $$_{2}$$ emissions. A social optimal distribution of consumption across cohorts, however, can only be attained by firm taxes in the steady state. In the general case, i.e., along a dynamic transitional path, additionally age-specific individual taxation is needed.