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Efficient International Agreements for Reducing Emissions of CO2

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  • Michael Hoel
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    Abstract

    International agreements are necessary to achieve significant reductions of emissions of CO2 and other greenhouse gases. Traditional agreements of the type "uniform percent reductions" have two disadvantages: in the first place, it would probably be difficult to get a sufficiently large participation in such an agreement, since it gives a distribution of costs of reducing emissions which may differ strongly from the advantages the countries have from avoiding climatic changes. In the second place, agreements of this type are generally not efficient. An international CO2 tar and tradeable CO2 quotas are two alternative schemes which have several common features, and which both are (almost) efficient under reasonable conditions. With appropriately chosen tax reimbursements in the case of a CO2 tax or initial distribution of quotas in the case of tradeable quotas, it is possible to make all, or at least almost al4 countries better off with the agreement than without.

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    Bibliographic Info

    Article provided by International Association for Energy Economics in its journal The Energy Journal.

    Volume (Year): Volume 12 (1991)
    Issue (Month): Number 2 ()
    Pages: 93-108

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    Handle: RePEc:aen:journl:1991v12-02-a06

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    Cited by:
    1. Brian R. Copeland & M. Scott Taylor, 2000. "Free Trade and Global Warming: A Trade Theory View of the Kyoto Protocol," NBER Working Papers 7657, National Bureau of Economic Research, Inc.
    2. Shah, Anwar & Larsen, Bjorn, 1992. "Carbon taxes, the greenhouse effect, and developing countries," Policy Research Working Paper Series 957, The World Bank.
    3. Gilles Rotillon & Tazdaït Tarik, 2003. "Coopération internationale et problèmes environnementaux globaux : vision normative versus vision positive," Revue d’économie du développement, De Boeck Université, vol. 17(1), pages 101-134.
    4. Shiell, Leslie, 2003. "Descriptive, prescriptive and second-best approaches to the control of global greenhouse gas emissions," Journal of Public Economics, Elsevier, vol. 87(7-8), pages 1431-1452, August.
    5. Michael Hoel, 1993. "Harmonization of carbon taxes in international climate agreements," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 3(3), pages 221-231, June.
    6. Peter Bohm & Bjorn Larsen, 1994. "Fairness in a tradeable-permit treaty for carbon emissions reductions in Europe and the former Soviet Union," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 4(3), pages 219-239, June.
    7. ZhongXiang Zhang & Henk Folmer, 1995. "The choice of policy instruments for the control of carbon dioxide emissions," Intereconomics: Review of European Economic Policy, Springer, vol. 30(3), pages 133-142, May.
    8. Zhang, ZhongXiang & Baranzini, Andrea, 2000. "What do we know about carbon taxes? an inquiry into their impacts on competitiveness and distribution of income," MPRA Paper 13225, University Library of Munich, Germany, revised Jan 2003.
    9. Parry, Ian & Goulder, Lawrence & Williams III, Roberton, 1997. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," Discussion Papers dp-97-18-rev, Resources For the Future.
    10. ZhongXiang Zhang & Lucas Assunao, 2004. "Domestic Climate Policies and the WTO," The World Economy, Wiley Blackwell, vol. 27(3), pages 359-386, 03.
    11. Gilles Rotillon & Tarik Tazdaït, 1996. "International bargaining in the presence of global environmental change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 8(3), pages 293-314, October.
    12. Rotillon, Gilles & Tazdait, Tarik & Zeghni, Sylvain, 1996. "Bilateral or multilateral bargaining in the face of global environmental change?," Ecological Economics, Elsevier, vol. 18(2), pages 177-187, August.
    13. Moritz Rohling & Markus Ohndorf, 2010. "Prices vs. Quantities with Fiscal Cushioning," IED Working paper 10-11, IED Institute for Environmental Decisions, ETH Zurich.
    14. Gardner M. Brown, 2000. "Renewable Natural Resource Management and Use without Markets," Journal of Economic Literature, American Economic Association, vol. 38(4), pages 875-914, December.
    15. Amundsen, Eirik S. & Lønning, Dag & Rasmussen, Heine, 1995. "An Analysis of International CO2 agreements," MPRA Paper 10753, University Library of Munich, Germany.
    16. Lars Håkonsen & Lars Mathiesen, 1997. "CO 2-stabilization may be a ‘no-regrets’ policy," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 9(2), pages 171-198, March.

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