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Does Distribution Matter? When Flexibility and Pareto-Efficiency in Greenhouse Gas Abatement

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Author Info
Gunter Stephan
Georg Müller-Fürstenberger
Abstract

This paper analyses banking and borrowing of carbon emission rights within the framework of a simple, integrated assessment model. Breaking the world economy in just two regions it will be shown: (1) Increasing when-flexibility in greenhouse gas abatement through banking and borrowing of carbon emission permits has a positive effect on welfare for regions with a poor endowment in carbon emission rights, but negatively affects rich-endowed regions. (2) Intergenerational fairness advocates intertemporal flexibility in greenhouse gas abatement, irrespectively of the initial allocation of carbon right. (3) Changing the degree of when-flexibility has only a small impact on global climate damages. (4) This is in contrast to the observation that the initial allocation of carbon emission rights has a significant impact on atmospheric carbon.

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Paper provided by Universitaet Bern, Departement Volkswirtschaft in its series Diskussionsschriften with number dp0102.

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Date of creation: Jul 2001
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Handle: RePEc:ube:dpvwib:dp0102

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Related research
Keywords: Carbon rights; climate policy; integrated assessment; banking and trade;

Find related papers by JEL classification:
Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
F2 - International Economics - - International Factor Movements and International Business

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