attempt to sketch out, mostly with verbal arguments, the sense in which each country's extra cost from a higher emissions … emissions in response to the higher price. Some implications are discussed. While the paper could be centered on a more formal …

climate and under net benefit maximization or Pigouvian emissions pricing. The remainder of the paper focuses on the …

ante distortions due to the anticipation of transition relief (such as by receiving more free permits for greater emissions …

Many policies to limit greenhouse gas emissions have at their core efforts to put a price on carbon emissions. Carbon …

Emissions of greenhouse gases linked with global climate change are affected by diverse aspects of economic activity … shadow-price on carbon dioxide emissions. We examine alternative designs of three such instruments - carbon taxes, cap …

economies, are false or need serious amendment in a world with international trade in goods. Since the three results we … a re-examination may be in order. Specifically, we demonstrate that in an open trading world, but not in a closed … trade does occur it may make both participants in the trade worse off and increase global emissions …

change externalities from carbon emissions involve critical asymmetries. Small countries trade off own country costs of …