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Jus, Darko; Meier, Volker (2012): Announcing is bad, delaying is worse: Another pitfall in well-intended climate policy. CESifo Working Paper: Energy and Climate Economics, 3844
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It is frequently observed that the implementation of green policies is delayed compared to the initial announcement. Considering a setting with a representative monopolist extracting a non-renewable resource, we demonstrate that announcing a green policy, but then delaying its implementation, is associated with a larger cumulative extraction at any point in time than announcing a late implementation of this policy at the outset.