The relative cost of carbon emissions reductions across regions depends on whether we measure cost by marginal or total cost, private or economy-wide cost, and using market or purchasing power parity exchange rates. If all countries are on the same marginal carbon abatement cost curve then lower...

A Dictionary of Climate Change and the Environment bridges the gap between the many disciplines encompassing climate change, environmental economics, environmental sciences, and environmental studies. It defines a comprehensive set of over 3700 words used across these fields to help policy...

Analysing the effect of a greenhouse gas emissions trading scheme (ETS) on energy-intensive industries using a simple model of the long-run equilibrium fails to fully capture the design implications of a scheme. When we allow for imperfect market structures and uncertainty, it is more useful to...