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Where in the World is it Cheapest to Cut Carbon Emissions? Ranking Countries by Total and Marginal Cost of Abatement

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  • David I. Stern

    ()
    (Crawford School of Public Policy, The Australian National University)

  • John C. V. Pezzey

    ()
    (Fenner School of the Environment and Society, The Australian National University)

  • N. Ross Lambie

    (Crawford School of Public Policy, The Australian National University)

Abstract

Countries with low marginal costs of abating carbon emissions may have high total costs, and vice versa, for a given climate mitigation policy. This may help to explain different countries' policy stances on climate mitigation. We hypothesize that, under a common percentage cut in emissions intensity relative to business as usual (BAU), countries with higher BAU emissions intensities have lower marginal abatement costs, but total costs relative to output will be similar across countries; and under a common carbon price, relative total costs are higher in emissions-intensive countries. Using the results of the 22nd Energy Modeling Forum, we estimate marginal abatement cost curves for the US, EU, China, and India, which we use to estimate marginal and total costs of abatement under a number of policy options currently under international debate. The results of this analysis provide support for our hypotheses.

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File URL: http://ccep.anu.edu.au/data/2011/pdf/wpapers/CCEP1111Stern.pdf
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Bibliographic Info

Paper provided by Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University in its series CCEP Working Papers with number 1111.

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Date of creation: Aug 2011
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Handle: RePEc:een:ccepwp:1111

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  1. Bang, Guri, 2010. "Energy security and climate change concerns: Triggers for energy policy change in the United States?," Energy Policy, Elsevier, vol. 38(4), pages 1645-1653, April.
  2. Kuik, Onno & Brander, Luke & Tol, Richard S.J., 2009. "Marginal abatement costs of greenhouse gas emissions: A meta-analysis," Energy Policy, Elsevier, vol. 37(4), pages 1395-1403, April.
  3. Frank Jotzo, 2010. "Comparing the Copenhagen emissions targets," Environmental Economics Research Hub Research Reports 1078, Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University.
  4. Stern, David I. & Jotzo, Frank, 2010. "How Ambitious are China and India’s Emissions Intensity Targets?," Research Reports 94947, Australian National University, Environmental Economics Research Hub.
  5. repec:cup:cbooks:9780521744447 is not listed on IDEAS
  6. Tavoni, Massimo & Tol, Richard S. J., 2009. "Counting Only the Hits? The Risk of Underestimating the Costs of Stringent Climate Policy," Papers WP324, Economic and Social Research Institute (ESRI).
  7. Dasgupta, Susmita & Hettige, Hemamala & Wheeler, David, 2000. "What Improves Environmental Compliance? Evidence from Mexican Industry," Journal of Environmental Economics and Management, Elsevier, vol. 39(1), pages 39-66, January.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Where is it cheapest to cut carbon emissions?
    by David Stern, Professor at Australian National University in The Conversation on 2012-09-03 20:32:16
  2. Final Versions of Two Papers Published
    by David Stern in Stochastic Trend on 2012-07-06 01:56:00
  3. Paper Accepted by AJARE
    by David Stern in Stochastic Trend on 2011-11-14 03:22:00
  4. Indian Perspective on Climate Change
    by David Stern in Stochastic Trend on 2011-08-14 01:33:00
  5. Bunch of New CCEP Working Papers
    by David Stern in Stochastic Trend on 2011-08-08 00:45:00

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