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Three Key Elements of Post-2012 International Climate Policy Architecture

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  • Olmstead, Sheila M.

    ()
    (Resources for the Future)

  • Stavins, Robert N.

Abstract

We describe three essential elements of an effective post-2012 international global climate policy architecture: a means to ensure that key industrialized and developing nations are involved in differentiated but meaningful ways; an emphasis on an extended time path of targets; and inclusion of flexible market-based policy instruments to keep costs down and facilitate international equity. This architecture is consistent with fundamental aspects of the science, economics, and politics of global climate change; addresses specific shortcomings of the Kyoto Protocol; and builds upon the foundation of the United Nations Framework Convention on Climate Change.

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Bibliographic Info

Paper provided by Resources For the Future in its series Discussion Papers with number dp-10-34.

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Date of creation: 18 Jun 2010
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Handle: RePEc:rff:dpaper:dp-10-34

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Keywords: global climate change; global warming; policy architecture; Kyoto Protocol;

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  1. Hahn, Robert W., 1982. "Market Power and Transferable Property Rights," Working Papers 402, California Institute of Technology, Division of the Humanities and Social Sciences.
  2. Stavins, Robert N., 2003. "Experience with market-based environmental policy instruments," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 1, chapter 9, pages 355-435 Elsevier.
  3. Warwick J. McKibbin & Peter J. Wilcoxen, 2003. "Estimates of the Costs of Kyoto-Marrakesh versus the McKibbin-Wilcoxen Blueprint," Economics and Environment Network Working Papers 0305, Australian National University, Economics and Environment Network.
  4. Stavins Robert N., 1995. "Transaction Costs and Tradeable Permits," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 133-148, September.
  5. repec:oup:renvpo:v:6:y::i:1:p:110-129 is not listed on IDEAS
  6. Gilbert E. Metcalf & David Weisbach, 2012. "Linking Policies When Tastes Differ: Global Climate Policy in a Heterogeneous World," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 6(1), pages 110-129.
  7. Michael Grubb, 2003. "The Economics of the Kyoto Protocol," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 4(3), pages 143-189, July.
  8. Valentina Bosetti & Jeffrey A. Frankel, 2009. "Global Climate Policy Architecture and Political Feasibility: Specific Formulas and Emission Targets to Attain 460 ppm CO2 Concentrations," NBER Working Papers 15516, National Bureau of Economic Research, Inc.
  9. Sugiyama, Taishi & Deshun, Liu, 2004. "Must developing countries commit quantified targets? Time flexibility and equity in climate change mitigation," Energy Policy, Elsevier, vol. 32(5), pages 697-704, March.
  10. Aldy, Joseph & Barrett, Scott & Stavins, Robert, 2003. "Thirteen Plus One: A Comparison of Global Climate Policy Architectures," Working Paper Series rwp03-012, Harvard University, John F. Kennedy School of Government.
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  12. Meredith Fowlie & Jeffrey M. Perloff, 2013. "Distributing Pollution Rights in Cap-and-Trade Programs: Are Outcomes Independent of Allocation?," The Review of Economics and Statistics, MIT Press, vol. 95(5), pages 1640-1652, December.
  13. Pizer, William & Newell, Richard, 1998. "Regulating Stock Externalities Under Uncertainty," Discussion Papers dp-99-10-rev, Resources For the Future.
  14. Brian C. Murray & Richard G. Newell & William A. Pizer, 2009. "Balancing Cost and Emissions Certainty: An Allowance Reserve for Cap-and-Trade," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 3(1), pages 84-103, Winter.
  15. Goulder, Lawrence H. & Schneider, Stephen H., 1999. "Induced technological change and the attractiveness of CO2 abatement policies," Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 211-253, August.
  16. Toman, Michael & Kolstad, Charles, 2000. "The Economics of Climate Policy," Discussion Papers dp-00-40, Resources For the Future.
  17. Hahn, Robert W. & Stavins, Robert N., 1999. "What Has the Kyoto Protocol Wrought? The Real Architecture of International Tradable Permit Markets," Working paper 70, Regulation2point0.
  18. Gilbert E. Metcalf, 2009. "Market-Based Policy Options to Control U.S. Greenhouse Gas Emissions," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 5-27, Spring.
  19. Toman, Michael & Shogren, Jason, 2000. "Climate Change Policy," Discussion Papers dp-00-22, Resources For the Future.
  20. Warwick J. McKibbin & Peter J. Wilcoxen, 2002. "The Role of Economics in Climate Change Policy," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 107-129, Spring.
  21. Pizer, William A., 2002. "Combining price and quantity controls to mitigate global climate change," Journal of Public Economics, Elsevier, vol. 85(3), pages 409-434, September.
  22. repec:reg:rpubli:47 is not listed on IDEAS
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Cited by:
  1. Burtraw, Dallas & Palmer, Karen & Munnings, Clayton & Weber, Paige & Woerman, Matt, 2013. "Linking by Degrees: Incremental Alignment of Cap-and-Trade Markets," Discussion Papers dp-13-04, Resources For the Future.
  2. Farrahi Moghaddam, Reza & Farrahi Moghaddam, Fereydoun & Cheriet, Mohamed, 2013. "A modified GHG intensity indicator: Toward a sustainable global economy based on a carbon border tax and emissions trading," Energy Policy, Elsevier, vol. 57(C), pages 363-380.
  3. Muhammad Ishaq-ur Rahman, 2013. "Climate Change: a Theoretical Review," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 11(1), pages 1-13.

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