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Krusell, Per; Smith, Anthony A. - National Bureau of Economic Research - 2022

The economic effects of climate change vary across both time and space. To study these effects, this paper builds a global economy-climate model featuring a high degree of geographic resolution. Carbon emissions from the use of energy in production increase the Earth's (average) temperature and...

Persistent link: https://www.econbiz.de/10013361992

Belts and Suspenders : Interactions Among Climate Policy Regulations

Levinson, Arik - 2010

With few exceptions, economic analyses of "cap-and-trade" permit trading mechanisms for climate change mitigation have been based on first-best scenarios without pre-existing distortions or regulations. The reason is obvious: interactions between permit trading and other regulations will be...

Persistent link: https://www.econbiz.de/10012462547

Cost Containment in Climate Change Policy : Alternative Approaches to Mitigating Price Volatility

Metcalf, Gilbert E. - 2009

Cap and trade systems are emerging as the front-running policy choice to address climate change concerns in many countries. One of the apparent attractions of this approach is the ability to achieve hard limits on emissions over a control period. The cost of achieving this certainty on emission...

Persistent link: https://www.econbiz.de/10012463525

On a World Climate Assembly and the Social Cost of Carbon

Weitzman, Martin - 2016

This paper postulates the conceptually useful allegory of a futuristic "World Climate Assembly" (WCA) that votes for a … emitter's single-peaked most-preferred world price of carbon emissions to the world "Social Cost of Carbon" (SCC). The second … and third propositions relate the WCA-voted world price of carbon to the world SCC. I argue that the WCA-voted price and …

Persistent link: https://www.econbiz.de/10012455867

How a Minimum Carbon Price Commitment Might Help to Internalize the Global Warming Externality

Weitzman, Martin L. - 2016

It is difficult to resolve the global warming free-rider externality problem by negotiating many different quantity targets. By contrast, negotiating a single internationally-binding minimum carbon price (the proceeds from which are domestically retained) counters self-interest by incentivizing...

Persistent link: https://www.econbiz.de/10012456478

Can Negotiating a Uniform Carbon Price Help to Internalize the Global Warming Externality?

Weitzman, Martin - 2013

Thus far, most approaches to resolving the global warming externality have been quantity based. With n different national entities, a meaningful comprehensive treaty involves negotiating n different binding emissions quotas (whether tradeable or not). In post-Kyoto practice this n-dimensional...

Persistent link: https://www.econbiz.de/10012459018

The Promise and Problems of Pricing Carbon : Theory and Experience

Aldy, Joseph E. - 2011

Because of the global commons nature of climate change, international cooperation among nations will likely be necessary for meaningful action at the global level. At the same time, it will inevitably be up to the actions of sovereign nations to put in place policies that bring about meaningful...

Persistent link: https://www.econbiz.de/10012461089

Unilateral Measures and Emissions Mitigation

Chatterji, Shurojit - 2009

We discuss global climate mitigation that builds on existing unilateral measures to cut emissions. We document and discuss the rationale for such unilateral measures argue that such measures have the potential to generate positive spillover effects both within and across countries. In a simple...

Persistent link: https://www.econbiz.de/10012463208

Environmental Taxes

Fullerton, Don - 2008

This chapter provides an overview of key economic issues in the use of taxation as an instrument of environmental policy in the UK. It first reviews economic arguments for using taxes and other market mechanisms in environmental policy, discusses the choice of tax base, and considers the value...

Persistent link: https://www.econbiz.de/10012464450

Environmental Investment and Policy with Distortionary Taxes and Endogenous Growth

Fullerton, Don - 2006

Recent studies consider public R&D spending that affects abatement knowledge and endogenous growth, distortionary taxes that affect physical and human capital formation, pollution taxes that affect environmental degradation, and regeneration that restores natural capital. Our model combines all...

Persistent link: https://www.econbiz.de/10012466599

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