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Rio - 10 Years After: A Critical Appraisal of Climate Policy

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  • Böhringer, Christoph
  • Vogt, Carsten

Abstract

Ten years after the initial Climate Change Convention from Rio in 1992, the developed world is likely to ratify the Kyoto Protocol which has been celebrated as a milestone in climate protection. Standard economic theory, however, casts doubt that Kyoto will go beyond symbolic policy. In this paper we show that the final concretion of the Kyoto Protocol obeys the theoretical prediction: Kyoto more or less boils down to business-as-usual without significant compliance costs to ratifying parties. --

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File URL: http://econstor.eu/bitstream/10419/24797/1/dp0209.pdf
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Bibliographic Info

Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 02-09.

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Date of creation: 2002
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Handle: RePEc:zbw:zewdip:888

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Keywords: climate policy; emission trading; hot air;

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  1. Hahn, Robert W, 1984. "Market Power and Transferable Property Rights," The Quarterly Journal of Economics, MIT Press, vol. 99(4), pages 753-65, November.
  2. Bohringer, Christoph, 2000. "Cooling down hot air: a global CGE analysis of post-Kyoto carbon abatement strategies," Energy Policy, Elsevier, vol. 28(11), pages 779-789, September.
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