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A new climate strategy beyond 2012: lessons from monetary history

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  • Warwick McKibbin

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Abstract

In this Perspective, based on the 2007 Shann Memorial Lecture, Professor Warwick McKibbin outlines the key features that are needed in a new climate change framework beyond Kyoto, drawing on lessons from monetary history. Using the analogy of the way modern central banks run monetary policy, it outlines an alternative to the Kyoto protocol which is a system of national climate policies coordinated around a common global price for carbon.

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Bibliographic Info

Paper provided by Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University in its series CAMA Working Papers with number 2009-28.

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Date of creation: Dec 2009
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Handle: RePEc:een:camaaa:2009-28

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