In this paper, we examine the relationship between CO2 and SO2 (including carbonaceous aerosols) mitigations in a framework of correlated global and local externalities. The framework is set up in a revised RICE model [Nordhaus, WD and Z Yang (1996). A regional dynamic general-equilibrium model...

Many countries have pledged targets or actions to reduce greenhouse gas emissions; these have been listed in the Appendices to the Copenhagen Accord and, at the time of writing, are being transferred to the UNFCCC Cancún Agreements. This analysis examines the costs and effectiveness of these...

We analyse the effects of rainfall and temperature on yields of paddy and millets (pearl millet and sorghum) in India for the period 1966–1999, at the district level. Unlike other studies, we control for fertiliser use and irrigation. We find that paddy (India's leading food crop) is sensitive...

This paper reviews the major barriers to the adoption of low-carbon technologies, with a focus on market failures that provide a rationale for policy intervention to improve economic efficiency. Market failures include externalities, asymmetric information, institutional failures, regulatory...

This paper assesses energy security in three long-term energy scenarios (business as usual development, a projection of Copenhagen commitments, and a 450 ppm stabilization scenario) as modeled in six integrated assessment models: GCAM, IMAGE, MESSAGE, ReMIND, TIAM-ECN and WITCH. We...

Voluntary contributions of the industrialized countries are small compared to the financial resources, the developing countries need for adapting efficiently to global climate change. This leads to the conjecture that under the current climate policy architecture industrialized countries lack...

Major cost concepts used for evaluation of carbon policy are considered, including change in GDP, change in consumption, change in welfare, energy system cost, and area under marginal abatement cost (MAC) curve. The issues associated with the use of these concepts are discussed. We use the...

This paper provides one of the few assessments of the economic implications of climate change policies in the important region of Eastern Europe and post-Soviet states. We use an integrated assessment model to evaluate the consequences of implementing climate policies consistent with the targets...

Accounting for socioeconomic and demographic variables, as well as country-specific effects, households' marginal willingness to pay for climate is revealed using European data on life-satisfaction. Individuals located in areas with lower average levels of sunshine and higher average levels of...

Increasingly there appears to be recognition of the need to simultaneously implement adaptation and mitigation. However, the optimal combination of adaptation and mitigation is an open question. The literature on this is rather small, and is inconsistent in conclusions. Here we explore the...