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Does Distribution Matter? Efficiency, Equity and Flexibility in Greenhouse Gas Abatement

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Author Info
Gunter Stephan ()
Georg Müller-Fürstenberger
Abstract

This paper analyses banking and borrowing ofcarbon emission rights within the framework ofa simple, integrated assessment model. Breaking the world economy in just two regionsit will be shown: (1) Increasing intertemporal flexibility in greenhouse gasabatement through banking and borrowing ofcarbon emission permits has a positive effecton welfare for regions with a poor endowment incarbon emission rights, but negatively affectsrich-endowed regions. (2) Intergenerationalfairness advocates intertemporal flexibility ingreenhouse gas abatement, irrespectively of theinitial allocation of carbon rights. (3)Optimal carbon accumulation is not independentof the initial allocation of carbon rights. Different initial sharing rules clearlyinfluence the development of atmospheric carbonconcentration. Copyright Kluwer Academic Publishers 2004

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File URL: http://hdl.handle.net/10.1023/B:EARE.0000016807.01447.b4
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Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 27 (2004)
Issue (Month): 1 (January)
Pages: 87-107
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Handle: RePEc:kap:enreec:v:27:y:2004:i:1:p:87-107

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Related research
Keywords: banking and trade; carbon rights; climate policy; integrated assessment;

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Stephan, Gunter & Muller-Furstenberger, Georg, 1998. "Discounting and the Economic Costs of Altruism in Greenhouse Gas Abatement," Kyklos, Blackwell Publishing, vol. 51(3), pages 321-38.
  2. Victor Ginsburgh & Michiel Keyzer, 2002. "The Structure of Applied General Equilibrium Models," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262571579, December.
  3. Kling, Catherine & Rubin, Jonathan, 1997. "Bankable permits for the control of environmental pollution," Journal of Public Economics, Elsevier, vol. 64(1), pages 101-115, April. [Downloadable!] (restricted)
  4. Nordhaus, William D & Yang, Zili, 1996. "A Regional Dynamic General-Equilibrium Model of Alternative Climate-Change Strategies," American Economic Review, American Economic Association, vol. 86(4), pages 741-65, September. [Downloadable!] (restricted)
  5. Chichilnisky, Graciela & Heal, Geoffrey, 1994. "Who should abate carbon emissions? : An international viewpoint," Economics Letters, Elsevier, vol. 44(4), pages 443-449, April. [Downloadable!] (restricted)
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  6. Paul Leiby & Jonathan Rubin, 2001. "Intertemporal Permit Trading for the Control of Greenhouse Gas Emissions," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(3), pages 229-256, July. [Downloadable!] (restricted)
  7. Richard F. Kosobud & Thomas A. Daly & David W. South & Kevin G. Quinn, 1994. "Tradable Cumulative CO2 Permits and Global Warming Control," The Energy Journal, International Association for Energy Economics, vol. 15(2), pages 213-232.
  8. McKibbin, Warwick J. & Shackleton, Robert & Wilcoxen, Peter J., 1999. "What to expect from an international system of tradable permits for carbon emissions," Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 319-346, August. [Downloadable!] (restricted)
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  9. Stephen C Peck & Thomas J. Teisberg, 1992. "CETA: A Model for Carbon Emissions Trajectory Assessment," The Energy Journal, International Association for Energy Economics, vol. 13(1), pages 55-78.
  10. Biglaiser, Gary & Horowitz, John K & Quiggin, John, 1995. "Dynamic Pollution Regulation," Journal of Regulatory Economics, Springer, vol. 8(1), pages 33-44, July.
  11. GUNTER Stephan & GEORG MÜLLER-FÜRSTENBERGER & PASCAL Previdoli, 1997. "Overlapping Generations or Infinitely-Lived Agents: Intergenerational Altruism and the Economics of Global Warming," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 10(1), pages 27-40, July. [Downloadable!] (restricted)
  12. Manne, Alan & Mendelsohn, Robert & Richels, Richard, 1995. "MERGE : A model for evaluating regional and global effects of GHG reduction policies," Energy Policy, Elsevier, vol. 23(1), pages 17-34, January. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Georg Müller-Fürstenberger & Gunter Stephan, 2005. "Intensity Targeting or Emission CAPS: Non-Cooperative Climate Change Policies and Technological Change," Diskussionsschriften dp0502, Universitaet Bern, Departement Volkswirtschaft. [Downloadable!]
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