To what extent do the welfare costs associated with the implementation of the Burden Sharing Agreement in the European Union depend on sectoral allocation of emissions rights? What are the prospects for strategic climate policy to favor domestic production? This paper attempts to answer those...

As a result of the allocation of emissions reductions, and the differential willingness of countries to ratify, it turns out that Russia is a central player in the Kyoto Protocol. With the U.S. out and Japan and the EU ratifying, the Protocol cannot enter into force without Russian ratification....

We find that, on an economic basis, nuclear power could make a substantial contribution for meeting the emissions target Japan agreed to in the Kyoto Protocol. It is unlikely however that the contribution would be as large as projected in official Japanese forecasts. The economic costs of the...

Although emissions of CO₂ are the largest anthropogenic contributor to the risks of climate change, other substances are important in the formulation of a cost-effective response. To provide improved facilities for addressing their role, we develop an approach for endogenizing control of these...

Economic efficiency is a major argument for the inclusion of an international emission permit trading system under the Kyoto Protocol. Using a partial equilibrium framework, energy system models have shown that implementing tradable permits for greenhouse gases internationally could reduce...