The paper proposes an agreement structure that extends Nordhaus's (2015) climate club by adding a second tier. Countries outside the coalition are required to price carbon at a fixed fraction of the average carbon price adopted within the coalition, or face tariffs. Coalition countries abate...

Global governance institutions for climate change, such as those established by the United Nations Framework Convention on Climate Change and the Kyoto Protocol, have so far failed to make a significant impact on greenhouse gas emissions. Following the lead of Elinor Ostrom, this paper offers an...

Calling upon both positive and normative economics, we attempt to characterize the issues at stake in the current international negotiations on climatic change. We begin (section 2) by reviewing the main features of the Protocol. Then (Section 3), we identify by means of an elementary economic...

A two-tier climate club exploits the comparative advantage of large countries to mete out punishments through trade, while taking their capacity to resist punishment as a constraint. Countries outside the coalition price carbon at a fixed fraction of the average carbon price adopted within the...

The lack of progress in global climate negotiations has caused scholars to refocus on prospects for lower-level agreements that might substitute for, supplement, or motivate a global mitigation agreement. This paper contributes to the emerging literature on polycentric approaches to climate...

With the challenges the world faces in the field of environmental policy, the research on complex interdependencies in world politics and transnational policy-making has been intensified. Several institutions came into existence in response to the increasing concerns about global climate change....

Free riding incentives make it difficult to control climate change. To improve the chances of the Paris Agreement's ambitious goal, many nations are forming scientific networks in carbon capture and storage (CCS). These networks take many forms (bilateral, hub-and-spoke, and multilateral)....