Environmental Engineering Reference
In-Depth Information
The current situation is thus characterized by a simultaneous co-existence of a
multitude of policies, which can be confusing and inef
cient due to their negative
interactions.
The academic literature has focused on estimating the individual results of each
public initiative. Different approaches have been adopted for such evaluation;
however little is known about the potential interactions among policies. In a multi-
policy context there is a large probability for negative interactions and unexploited
synergies among policies. This should be the area for future academic work, and the
corresponding
ndings should be used to design and implement policy packages
(see e.g. [
32
]).
Given the range of instruments that exist it is not easy to select the optimal
combination. There is a need to carry out a comprehensive review of all instruments
in an economy-wide framework so interactions can be speci
cally allowed. The aim
for a transition to reform policies in this sector should be based on:
Eliminating those policies that do not work cost effectively in the sector and for
the purposes for which they were intended.
Setting the levels of the others so that they take account of cross and interaction
effects.
Bringing in additional instruments that address problems created by the ones
that have been introduced (e.g. distributional issues arising from energy taxes).
This transition cannot be made overnight but it is time to make a start and
hopefully over the next decade we will have a more effective policy framework to
promote energy ef
ciency. A key role in this will have to be played by the eco-
nomic analysis of the cost effectiveness of different instruments within an agent-
based framework.
References
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