What to expect from an international system of tradable permits for carbon emissions
AbstractWe use an econometrically estimated multi-region, multi-sector general equilibrium model of the world economy to examine the effects of using a system of internationally tradable emission permits to control world carbon dioxide emissions. We focus, in particular, on the effects of the system on flows of trade and international capital. Our results show that international trade and capital flows significantly alter projections of the domestic effects of the emissions mitigation policy, compared with analyses that ignore international capital flows, and that under some systems of international permit trading the United States is likely to become a significant permit seller, the opposite of conventional wisdom.
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Bibliographic InfoArticle provided by Elsevier in its journal Resource and Energy Economics.
Volume (Year): 21 (1999)
Issue (Month): 3-4 (August)
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Web page: http://www.elsevier.com/locate/inca/505569
Other versions of this item:
- Warwick J. McKibbin & Robert Shackleton & Peter J. Wilcoxen, 1998. "What to Expect from an International System of Tradable Permits for Carbon Emmisions," Economics and Environment Network Working Papers, Australian National University, Economics and Environment Network 9804, Australian National University, Economics and Environment Network.
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
- F30 - International Economics - - International Finance - - - General
- O20 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - General
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