In the recent United Nations Framework Convention on Climate Change (UNFCCC) negotiations, sectoral trading was proposed to encourage early action and spur investment in low carbon technologies in developing countries. This mechanism involves including a sector from one or more nations in an...

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 examines how changes in an international climate regime would affect the European decarbonization strategy and costs through the mechanisms of trade, technology, and innovation. We present the results from the Energy Modeling Forum (EMF) model comparison study on European climate...