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The Assessment: Climate-Change Policy

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  • Dieter Helm

Abstract

The paper provides a guide to climate-change policy, and, in particular, the three core components: targets, instruments, and institutional structures. First, the optimal path for reducing carbon-dioxide (CO-sub-2) emissions, and the role of the social cost of carbon in the estimation and revision of the path are set out. Second, the policy instruments, or combination of instruments--taxes, permits, and command-and-control--which are likely to be most efficient within the political constraints are reviewed. Finally, the design of institutional structures most conducive to the facilitation of international agreements (such as the Kyoto Protocol) and the establishment of credible global climate-change policies is discussed. The paper identifies the considerable inefficiencies in existing policies, and the scope for policy improvements. Copyright 2003, Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Review of Economic Policy.

Volume (Year): 19 (2003)
Issue (Month): 3 ()
Pages: 349-361

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Handle: RePEc:oup:oxford:v:19:y:2003:i:3:p:349-361

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Web page: http://oxrep.oupjournals.org/

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Cited by:
  1. G. Cornelis van Kooten & Tim Bogle & Frans P. de Vries, 2012. "Rent Seeking and the Smoke and Mirrors Game in the Creation of Forest Sector Carbon Credits: An Example from British Columbia," Working Papers 2012-06, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
  2. Hallegatte, Stephane & Heal, Geoffrey & Fay, Marianne & Treguer, David, 2011. "From growth to green growth -- a framework," Policy Research Working Paper Series 5872, The World Bank.
  3. Hallegatte, Stephane & Fay, Marianne & Vogt-Schilb, Adrien, 2013. "Green industrial policies : when and how," Policy Research Working Paper Series 6677, The World Bank.
  4. Lis, Eliza M. & Nickel, Christiane, 2009. "The impact of extreme weather events on budget balances and implications for fiscal policy," Working Paper Series 1055, European Central Bank.
  5. Purkus, Alexandra & Gawel, Erik & Thrän, Daniela, 2012. "Bioenergy governance between market and government failures: A new institutional economics perspective," UFZ Discussion Papers 13/2012, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
  6. Eliza Lis & Christiane Nickel, 2010. "The impact of extreme weather events on budget balances," International Tax and Public Finance, Springer, vol. 17(4), pages 378-399, August.
  7. Risa Kumazawa & Michael Callaghan, 2012. "The effect of the Kyoto Protocol on carbon dioxide emissions," Journal of Economics and Finance, Springer, vol. 36(1), pages 201-210, January.

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