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Where is it Cheapest to Cut Carbon Emissions?

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  • Stern, David I.
  • Lambie, N. Ross

Abstract

The relative cost of carbon emissions reductions across regions depends on whether we measure cost by marginal or total cost, private or economy-wide cost, and using market or purchasing power parity exchange rates. If all countries are on the same marginal carbon abatement cost curve then lower marginal costs of abatement are associated with higher energy intensities and higher total costs of abatement in achieving proportional cuts in emissions, equal emissions per capita, or common global carbon price targets. We test this conjecture using the results of the GTEM computable general equilibrium model as presented in the climate change economics review conducted by the Australian Treasury Department. Rankings of countries by costs do differ depending on whether marginal or total cost is used. But some regions, including OPEC and the former USSR, have high marginal costs and high emissions intensities and, therefore, high total costs and others like the EU relatively low marginal and total costs. Under a global emissions trading regime real economy-wide costs of abatement are higher in developing economies with currencies valued below purchasing power parity and large differences between private and economy-wide costs such as India contributing to the high GDP losses experienced in those countries.

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Bibliographic Info

Paper provided by Australian National University, Environmental Economics Research Hub in its series Research Reports with number 95058.

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Date of creation: Jun 2010
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Handle: RePEc:ags:eerhrr:95058

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Keywords: Climate change; costs; developing countries; computable general equilibrium; Environmental Economics and Policy; Q52; Q54;

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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Can Negotiating a Uniform Carbon Price Help to Internalize the Global Warming Externality?
    by David Stern in Stochastic Trend on 2013-11-25 03:11:00
  2. Stern and Enflo, Energy Economics
    by David Stern in Stochastic Trend on 2013-05-05 08:17:00
  3. CSTS-TISS Workshop
    by David Stern in Stochastic Trend on 2011-08-03 12:42:00
  4. Marginal CO2 Abatement Cost Curves from EMF22
    by David Stern in Stochastic Trend on 2010-12-17 07:57:00
  5. EERH Research Reports: June 2010
    by David Stern in Stochastic Trend on 2010-07-03 10:06:00
  6. Where is it Cheapest to Cut Carbon Emissions: Estimating Marginal Costs
    by David Stern in Stochastic Trend on 2010-06-20 04:37:00
  7. Where is it Cheapest to Cut Carbon Emissions?
    by David Stern in Stochastic Trend on 2010-06-17 04:53:00
  8. New EERH Research Reports
    by David Stern in Stochastic Trend on 2010-06-15 23:56:00
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Cited by:
  1. Stephen Howes & Paul Wyrwoll, 2012. "Climate Change Mitigation and Green Growth in Developing Asia," Working Papers id:5059, eSocialSciences.
  2. Howes, Stephen & Wyrwoll, Paul, 2012. "Climate Change Mitigation and Green Growth in Developing Asia," ADBI Working Papers 369, Asian Development Bank Institute.
  3. World Bank, 2011. "Climate Change and Fiscal Policy : A Report for APEC," World Bank Other Operational Studies 2734, The World Bank.

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