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Marginal abatement cost curves in general equilibrium: The influence of world energy prices

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  • Klepper, Gernot
  • Peterson, Sonja

Abstract

Marginal abatement cost curves (MACCs) are a favorite instrument to analyze international emissions trading. This paper focusses on the question of how to define MACCs in a general equilibrium context where the global abatement level influences energy prices and in turn national MACCs. We discuss the mechanisms theoretically and then use the CGE model DART for quantitative simulations. The result is, that changes in energy prices resulting from different global abatement levels do indeed affect national MACCs. Also, we compare different possibilities of defining MACCs - of which some are robust against changes in energy prices while others vary considerably.

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File URL: http://www.econstor.eu/bitstream/10419/3775/1/Klepper_Peterson_Marginal_Abatement_2006.pdf
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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Open Access publications from Kiel Institute for the World Economy with number info:hdl:10419/3775.

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Date of creation: 2006
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Publication status: Published in Resource and energy economics (2006) v.28, p.1-23
Handle: RePEc:ner:ifwkie:info:hdl:10419/3775

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Web page: http://www.ifw-kiel.de

Related research

Keywords: Klimaschutz; Klimaveränderung; Umweltschutzkosten; Erdölpreis; Allgemeines Gleichgewicht; Simulation; Welt;

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References

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  1. Böhringer, Christoph & Löschel, Andreas, 2001. "Market power in international emissions trading : the impact of U.S. withdrawal from the Kyoto Protocol," ZEW Discussion Papers 01-58, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Böhringer, Christoph, 2001. "Climate politics from Kyoto to Bonn: from little to nothing?!?," ZEW Discussion Papers 01-49, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  3. Gernot Klepper & Sonja Peterson, 2003. "On the Robustness of Marginal Abatement Cost Curves: The Influence of World Energy Prices," Kiel Working Papers 1138, Kiel Institute for the World Economy.
  4. Zhang, ZhongXiang & Löschel, Andreas, 2002. "The Economic and Environmental Implications of the US Repudiation of the Kyoto Protocol and the Subsequent Deals in Bonn and Marrakech," ZEW Discussion Papers 02-28, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  5. Gernot Klepper & Sonja Peterson & Katrin Springer, 2003. "DART97: A Description of the Multi-regional, Multi-sectoral Trade Model for the Analysis of Climate Policies," Kiel Working Papers 1149, Kiel Institute for the World Economy.
  6. Christoph BOhringer & Andreas LOschel, 2003. "Market power and hot air in international emissions trading: the impacts of US withdrawal from the Kyoto Protocol," Applied Economics, Taylor and Francis Journals, vol. 35(6), pages 651-663.
  7. McKitrick, Ross, 1999. "A Derivation of the Marginal Abatement Cost Curve," Journal of Environmental Economics and Management, Elsevier, vol. 37(3), pages 306-314, May.
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Citations

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Cited by:
  1. Lange, Andreas & Löschel, Andreas & Vogt, Carsten & Ziegler, Andreas, 2010. "On the self-interested use of equity in international climate negotiations," European Economic Review, Elsevier, vol. 54(3), pages 359-375, April.
  2. Koenig, P., 2011. "Modelling Correlation in Carbon and Energy Markets," Cambridge Working Papers in Economics 1123, Faculty of Economics, University of Cambridge.
  3. Wilfried Rickels & Katrin Rehdanz & Andreas Oschlies, 2009. "Economics prospects of ocean iron fertilization in an international carbon market," Kiel Working Papers 1573, Kiel Institute for the World Economy.
  4. John Foster & Liam Wagner & Phil Wild & Junhua Zhao & Lucas Skoofa & Craig Froome, 2011. "Market and Economic Modelling of the Intelligent Grid: End of Year Report 2009," Energy Economics and Management Group Working Papers 09, School of Economics, University of Queensland, Australia.
  5. Anger, Niels, 2008. "Emissions trading beyond Europe: Linking schemes in a post-Kyoto world," Energy Economics, Elsevier, vol. 30(4), pages 2028-2049, July.
  6. Wassmann, R. & Pathak, H., 2007. "Introducing greenhouse gas mitigation as a development objective in rice-based agriculture: II. Cost-benefit assessment for different technologies, regions and scales," Agricultural Systems, Elsevier, vol. 94(3), pages 826-840, June.
  7. Breen, James P. & Donellan, Trevor, 2009. "Estimating the Marginal Costs of Greenhouse Gas Emissions Abatement using Irish Farm-Level Data," 83rd Annual Conference, March 30-April 1, 2009, Dublin, Ireland 50938, Agricultural Economics Society.
  8. Gersbach, Hans & Winkler, Ralph, 2011. "International emission permit markets with refunding," European Economic Review, Elsevier, vol. 55(6), pages 759-773, August.
  9. Mendoza Beltran, Angelica & den Elzen, Michel G.J. & Hof, Andries F. & van Vuuren, Detlef P. & van Vliet, Jasper, 2011. "Exploring the bargaining space within international climate negotiations based on political, economic and environmental considerations," Energy Policy, Elsevier, vol. 39(11), pages 7361-7371.
  10. Vijay, Samudra & DeCarolis, Joseph F. & Srivastava, Ravi K., 2010. "A bottom-up method to develop pollution abatement cost curves for coal-fired utility boilers," Energy Policy, Elsevier, vol. 38(5), pages 2255-2261, May.
  11. Lehmann, Paul, 2010. "Combining emissions trading and emissions taxes in a multi-objective world," UFZ Discussion Papers 4/2010, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
  12. Adrien Vogt-Schilb & Stéphane Hallegatte, 2011. "When Starting with the Most Expensive Option Makes Sense On Marginal Abatement Cost Curves and Optimal Abatement Pathways," Working Papers hal-00626261, HAL.
  13. Blyth, William & Bunn, Derek & Kettunen, Janne & Wilson, Tom, 2009. "Policy interactions, risk and price formation in carbon markets," Energy Policy, Elsevier, vol. 37(12), pages 5192-5207, December.
  14. Jaehn, Florian & Letmathe, Peter, 2010. "The emissions trading paradox," European Journal of Operational Research, Elsevier, vol. 202(1), pages 248-254, April.
  15. Kretschmer, Bettina & Narita, Daiju & Peterson, Sonja, 2009. "The economic effects of the EU biofuel target," Open Access publications from Kiel Institute for the World Economy info:hdl:10419/32984, Kiel Institute for the World Economy.
  16. Nadine Heitmann & Sonja Peterson, 2012. "The Potential Contribution of the Shipping Sector to an Efficient Reduction of Global Carbon Dioxide Emissions," Kiel Working Papers 1813, Kiel Institute for the World Economy.
  17. Golub, Alla & Hertel, Thomas & Lee, Huey-Lin & Rose, Steven & Sohngen, Brent, 2009. "The opportunity cost of land use and the global potential for greenhouse gas mitigation in agriculture and forestry," Resource and Energy Economics, Elsevier, vol. 31(4), pages 299-319, November.
  18. Sonja Peterson & Gernot Klepper, 2007. "Distribution Matters � Taxes vs. Emissions Trading in Post Kyoto Climate Regimes," Kiel Working Papers 1380, Kiel Institute for the World Economy.

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