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Working paper

Taxes vs. Permits: Options for Price-Based Climate Change Regulation (WP 05/02)

Issue date: 
Tuesday, 1 March 2005
View point: 
Publication category: 
JEL classification: 
Q28 - Renewable Resources and Conservation: Government Policy
Q48 - Energy: Government Policy

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This paper provides an overview of key issues involved in the choice among market-based instruments for climate change policy.


We would like to thank Steve Rylands, Kevin Guerin and Joanna Smith at Treasury and Billy Pizer at Resources for the Future for useful comments. This work draws on Motu’s FRST funded project ‘Land use, climate change and Kyoto’, and involves indirect input from Landcare, Forest Research and AgResearch. The authors are responsible for all opinions expressed and all errors and omissions that remain.


This document was commissioned by the New Zealand Treasury. However, the views, opinions, findings and conclusions or recommendations expressed in it are strictly those of the author(s), do not necessarily represent and should not be reported as those of the New Zealand Treasury. The New Zealand Treasury takes no responsibility for any errors, omissions in, or for the correctness of, the information contained in this Paper.


  • [1]Joanna Hendy is the primary author of section 6.2 but does not take responsibility for the document as a whole.

Last updated: 
Tuesday, 23 October 2007