pollution intensity. Countries' growth rates are determined endogenously, and abatement efficiency is improved by technical … regime. The optimal allocation of pollution permits depends on international trade. In the absence of international permit … developed. When global distribution of physical capital is uneven and the aggregate pollution ceiling is low, poor countries …

change, and iii) that the only policy tool needed is to price carbon emissions. Second, to argue that climate change cuts … across traditional policy areas and that a wide set of different policy tools is required to reduce emissions. I also call … for sequential policies that begin by enabling decarbonization before focusing on phasing out emissions. …