What to Expect from an International System of Tradable Permits for Carbon Emmisions
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 InfoPaper provided by Australian National University, Economics and Environment Network in its series Economics and Environment Network Working Papers with number 9804.
Length: 32 pages
Date of creation: Jul 1998
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Web page: http://een.anu.edu.au/
tradable permits; international capital flows; policy;
Other versions of this item:
- 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.
- 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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