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Climate Policy with Multiple Sources and Sinks of Greenhouse Gases

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  • H. Aaheim

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Abstract

This paper studies how inclusion of many sources, sinks and reservoirs -- a comprehensive approach -- affects climate policy, compared with a control merely of CO 2 . Two questions of particular importance arise in such an analysis. One is how to aggregate the emissions of different climate gases, and the other is how to include all relevant measures in the analysis. To aggregate gases properly, an intertemporal analysis should be carried out. To assure that all relevant measures are included, we suggest that certain measures to reduce emissions of greenhouse gases are specified explicitly and evaluated together with indirect measures, such as carbon charges. A numerical analysis based on an optimal control model indicates that direct measures may play an important role in the design of climate policy, especially for the control of the emissions of greenhouse gases other than CO 2 . Similar to other studies of the time-path for abatement efforts, the bulk of abatement should be taken by the end of the planning period. This result is significantly strengthened if gases with short life-times in the atmosphere, such as methane, are subject to control. Copyright Kluwer Academic Publishers 1999

Suggested Citation

  • H. Aaheim, 1999. "Climate Policy with Multiple Sources and Sinks of Greenhouse Gases," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 14(3), pages 413-430, October.
  • Handle: RePEc:kap:enreec:v:14:y:1999:i:3:p:413-430
    DOI: 10.1023/A:1008324628810
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    References listed on IDEAS

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    1. Nordhaus, William D & Yang, Zili, 1996. "A Regional Dynamic General-Equilibrium Model of Alternative Climate-Change Strategies," American Economic Review, American Economic Association, vol. 86(4), pages 741-765, September.
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    5. Farzin, Y H & Tahvonen, O, 1996. "Global Carbon Cycle and the Optimal Time Path of a Carbon Tax," Oxford Economic Papers, Oxford University Press, vol. 48(4), pages 515-536, October.
    6. Tahvonen, Olli, 1995. "Net national emissions, CO2 taxation and the role of forestry," Resource and Energy Economics, Elsevier, vol. 17(4), pages 307-315, December.
    7. Weitzman Martin L., 1994. "On the Environmental Discount Rate," Journal of Environmental Economics and Management, Elsevier, vol. 26(2), pages 200-209, March.
    8. Frederick Ploeg & Cees Withagen, 1991. "Pollution control and the Ramsey problem," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 1(2), pages 215-236, June.
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    Citations

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    Cited by:

    1. Baumgärtner, Stefan & Jöst, Frank & Winkler, Ralph, 2009. "Optimal dynamic scale and structure of a multi-pollution economy," Ecological Economics, Elsevier, vol. 68(4), pages 1226-1238, February.
    2. Legras, Sophie, 2011. "Incomplete model specification in a multi-pollutants setting: The case of climate change and acidification," Resource and Energy Economics, Elsevier, vol. 33(3), pages 527-543, September.
    3. Stéphane De Cara & Elodie Debove & Pierre-Alain Jayet, 2006. "The Global Warming Potential Paradox: Implications for the Design of Climate Policy," Working Papers 2006/03, INRA, Economie Publique.
    4. Ralph Winkler, 2008. "Optimal compliance with emission constraints: dynamic characteristics and the choice of technique," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 39(4), pages 411-432, April.

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