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Greenhouse abatement policy: insights from the G-cubed multi-country model

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  • McKibbin, Warwick J.

Abstract

The third meeting of the Conference of the Parties of the Framework Convention on Climate Change held in Japan last December was a lost opportunity to set a realistic policy framework for addressing climate change in the coming decades. A number of countries proposed targets for greenhouse emissions, to be reached by a target date. The outcome was a range of different targets for each country. Analysis with the G‐cubed multi‐country model suggests that fixed targets are a costly way to address climate change. The extent of potential cost suggests the agreement will eventually fail. A better way to address climate change is to focus on uniformity in policy instruments that deliver differentiated outcomes rather than focus on differentiated policy settings.

Suggested Citation

  • McKibbin, Warwick J., 1998. "Greenhouse abatement policy: insights from the G-cubed multi-country model," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(1), pages 1-15.
    • Handle: RePEc:ags:aareaj:117224
    DOI: 10.22004/ag.econ.117224
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    References listed on IDEAS

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    1. W. J. McKibbin & P. J. Wilcoxen, "undated". "Environmental Policy and International Trade," Discussion Papers 117, Brookings Institution International Economics.
    2. P. Bagnoli & W. J. McKibbin & P. J. Wilcoxen, "undated". "Global Economic Prospects: Medium Term Projections and Structural Change," Discussion Papers 121, Brookings Institution International Economics.
    3. W. J. McKibbin & P. J. Wilcoxen, "undated". "Economic Implications of Greenhouse Gas Policy," Discussion Papers 116, Brookings Institution International Economics.
    4. Jorgenson, D.W. & Wilcoxen, P.J., 1991. "Reducing US Carbon Dioxide Emissions: The Cost of Different Goals," Harvard Institute of Economic Research Working Papers 1575, Harvard - Institute of Economic Research.
    5. ANDERSON, KYM & McKIBBIN, WARWICK J., 2000. "Reducing coal subsidies and trade barriers: their contribution to greenhouse gas abatement," Environment and Development Economics, Cambridge University Press, vol. 5(4), pages 457-481, October.
    6. McKibbin, Warwick J. & Wilcoxen, Peter J., 1998. "The theoretical and empirical structure of the G-Cubed model," Economic Modelling, Elsevier, vol. 16(1), pages 123-148, January.
    7. Mckibbin, W.J. & Wilcoxen, P.J., 1992. "The Global Costs of Policies to Reduce Greenhouse Gas Emissions," Papers 97, Brookings Institution - Working Papers.
    8. Warwick J. McKibbin & Adam Triggs, 2018. "Modelling the G20," CAMA Working Papers 2018-17, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
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    Cited by:

    1. Ashish Rana & Tsuneyuki Morita, 2000. "Scenarios for greenhouse gas emission mitigation: a review of modeling of strategies and policies in integrated assessment models," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 3(2), pages 267-289, June.
    2. Ashish Rana & Tsuneyuki Morita, 2000. "Scenarios for greenhouse gas emission mitigation: a review of modeling of strategies and policies in integrated assessment models," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 3(2), pages 267-289, June.

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