Ten years after the initial Climate Change Convention from Rio in 1992, the developed world is likely to ratify the Kyoto Protocol which has been celebrated as a milestone in climate protection. Standard economic theory, however, casts doubt that Kyoto will go beyond symbolic policy. In this...

We investigate how the U.S. withdrawal and the amendments of the Bonn climate policy conference in 2001 will change the economic and environmental impacts of the Kyoto Protocol in its original form. Based on simulations with a large-scale computable general equilibrium model, we find that U.S....

In the context of climate protection policy it has been suggested that global CO2 emissions should be reduced significantly (contraction) and that per capita emissions should gradually be equalized across countries (convergence). This paper uses a dynamic multi-region computable general...

The allocation of emission entitlements across countries is the single most controversial issue in international climate policy. Extreme positions within the policy debate range from entitlements based on current emission patterns (CEP) to equal-per-capita (EPC) allocations. Convergence (COV)...