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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
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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 … internalize the externality. I attempt to sketch out the sense in which each WCA-agent's extra cost from a higher emissions price … emitter's single-peaked most-preferred world price of carbon emissions to the world "Social Cost of Carbon" (SCC). The second …
Persistent link: https://www.econbiz.de/10012455867
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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 … domestically retained) counters self-interest by incentivizing countries to internalize the externality. In this contribution I …
Persistent link: https://www.econbiz.de/10012456478
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Designing Climate Mitigation Policy
Aldy, Joseph E. - 2009
This paper provides an exhaustive review of critical issues in the design of climate mitigation policy by pulling together key findings and controversies from diverse literatures on mitigation costs, damage valuation, policy instrument choice, technological innovation, and international climate...
Persistent link: https://www.econbiz.de/10012463627
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Distributional Impacts of Carbon Pricing : A General Equilibrium Approach with Micro-Data for Households
Rausch, Sebastian - 2011
Many policies to limit greenhouse gas emissions have at their core efforts to put a price on carbon emissions. Carbon pricing impacts households both by raising the cost of carbon intensive products and by changing factor prices. A complete analysis requires taking both effects into account. The...
Persistent link: https://www.econbiz.de/10012461570
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Using the Market to Address Climate Change : Insights from Theory and Experience
Aldy, Joseph E. - 2011
Emissions of greenhouse gases linked with global climate change are affected by diverse aspects of economic activity, including individual consumption, business investment, and government spending. An effective climate policy will have to modify the decision calculus for these activities in the...
Persistent link: https://www.econbiz.de/10012461169
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Optimal Carbon Abatement in a Stochastic Equilibrium Model with Climate Change
Hambel, Christoph - 2015
This paper studies a dynamic stochastic general equilibrium model involving climate change. Our frame- work allows for feedback effects on the temperature dynamics. We are able to match estimates of future temperature distributions provided in the fifth assessment report of the IPCC (2014). We...
Persistent link: https://www.econbiz.de/10012457623
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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 …-riding self interest by incentivizing agents to internalize the externality. The model of this paper indicates an exact sense in …
Persistent link: https://www.econbiz.de/10012459018
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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
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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