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Biofuels Subsidies and the Green ParadoxR. Quentin GraftonAustralian National University (ANU) - Centre for Resource and Environmental Studies (CRES); Australian National University (ANU) - Crawford School of Economics and Government Tom KompasAustralian National University (ANU) - Crawford School of Public Policy Ngo Van LongMcGill University - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute for Economic Research) February 2010 CESifo Working Paper Series No. 2960 Abstract: This paper develops sufficient conditions under which the Weak Green Paradox may (and may not) hold in terms of subsidies for biofuel production such that the supply-side responses by fossil fuel producers may more than offset the substitution to biofuels. Analytical results are derived and numerical simulations show that, under a wide range of parameter values, biofuel subsidies will increase the rate of extraction of fossil fuels in the short and medium term, and possibly bring climate-change damages closer to the present.
Number of Pages in PDF File: 42 Keywords: biofuels subsidies, the Green Paradox JEL Classification: Q54, Q42, Q30 working papers seriesDate posted: February 28, 2010Suggested CitationContact Information
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