Voluntary participation can improve multilateral environmental governance. We develop a theory of voluntary participation in federal environmental policy by states of differing wealth. Using a general equilibrium model, we formalize voluntary participation by a Pareto-improving federal emission...

Emission leakage could potentially undermine the effectiveness of unilateral climate policies. Significant emission transfers from developing countries to developed countries in the form of emissions embodied in trade have been interpreted as an indication of such leakage. To reduce leakage and...

A major concern in climate negotiations is that decarbonization may significantly hurt the development process. This paper shows that international specialization can contribute to making environmental and economic objectives compatible. When carbon efficiency differs between two trading...

The authors propose a policy package of low-carbon growth stimulation through a steep increase in sustainable infrastructure, mobilizing sustainable finance, and adoption of carbon pricing to simultaneously achieve the objectives of the Paris Agreement and the Sustainable Development Goals.

Green fiscal reforms would contribute to climate change mitigation, increase the economic efficiency of national tax systems and provide additional public revenues. Some countries in Latin America have already taken first steps towards green fiscal reforms. This outlook article provides an...

Green fiscal reforms would contribute to climate change mitigation, increase the economic efficiency of national tax systems and provide additional public revenues. Some countries in Latin America have already taken first steps towards green fiscal reforms. This paper provides an overview of the...

The authors propose a policy package of low-carbon growth stimulation through a steep increase in sustainable infrastructure, mobilizing sustainable finance, and adoption of carbon pricing to simultaneously achieve the objectives of the Paris Agreement and the Sustainable Development Goals.

Achieving a truly sustainable energy transition requires progress across multiple dimensions beyond climate change mitigation goals. This article reviews and synthesizes results from disparate strands of literature on the coeffects of mitigation to inform climate policy choices at different...