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The lack of real progress at the Durban climate change conference in 2011—postponing effective action until at least 2020—has many causes, one of which is the failure to address trade issues and, in particular, carbon leakage. This paper advances two arguments. First, it argues that the...
Persistent link: https://www.econbiz.de/10010969793
Persistent link: https://www.econbiz.de/10009206350
The paper sets out the credibility problem in carbon policy, provides a number of examples of non-credibility in recent energy policy, and identifies the costs of failing to address it. The time inconsistency of carbon policy--arising because of multiple objectives, the irreversibility of energy...
Persistent link: https://www.econbiz.de/10005743573
Biodiversity is complex, difficult to define, difficult to measure, and often involves international and intergenerational considerations. Biodiversity loss presents significant economic challenges. A great deal of economics is required to understand the issues, but a simple and important...
Persistent link: https://www.econbiz.de/10010600317
Environmental policy is made in a context of both market failure and government failure. On the one hand, leaving environmental protection to the free market, relying on notions of corporate social responsibility and altruistic consumer and shareholder preferences, will not deliver optimal...
Persistent link: https://www.econbiz.de/10008675578
Persistent link: https://www.econbiz.de/10005559622
Choosing appropriate policy instruments is an important part of successful regulation. Once objectives are agreed and suitable targets adopted, policy-makers can employ command-and-control regulation and/or economic instruments, and choose between fixing a price or a quantity. This paper...
Persistent link: https://www.econbiz.de/10005569575