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Some Economics of Global Warming

Author

Listed:
  • Jean Tirole

    () (Toulouse School of Economics)

Abstract

This paper reflects on the economics and politics of an international climate policy agreement. The international community has so far failed to design institutions and a compensation scheme that would lead to an abatement effort commensurate with the IPCC recommendations that it attempts tofollow. The paper first lays out what could be a proper institutional design, minimizing the impact of abatement on the world consumer’s income, and thereby making the fight against climate change more credible. It then sketches a governance mechanism as well as an approach to compensation. Finally, it concludes with a roadmap for the negotiation.

Suggested Citation

  • Jean Tirole, 2008. "Some Economics of Global Warming," Rivista di Politica Economica, SIPI Spa, vol. 98(6), pages 9-42, November-.
  • Handle: RePEc:rpo:ripoec:v:98:y:2008:i:6:p:9-42
    as

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    File URL: http://www.rivistapoliticaeconomica.it/2008/nov-dic/pdf/Tirole_en.pdf
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    References listed on IDEAS

    as
    1. Hahn, Robert W., 2000. "The Impact of Economics on Environmental Policy," Journal of Environmental Economics and Management, Elsevier, vol. 39(3), pages 375-399, May.
    2. Ellerman,A. Denny & Joskow,Paul L. & Schmalensee,Richard & Montero,Juan-Pablo & Bailey,Elizabeth M., 2005. "Markets for Clean Air," Cambridge Books, Cambridge University Press, number 9780521023894, Fall.
      • Ellerman,A. Denny & Joskow,Paul L. & Schmalensee,Richard & Montero,Juan-Pablo & Bailey,Elizabeth M., 2000. "Markets for Clean Air," Cambridge Books, Cambridge University Press, number 9780521660839, Fall.
    3. Christian Gollier, 2008. "Discounting with fat-tailed economic growth," Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 171-186, December.
    4. Hahn, Robert W & Stavins, Robert N, 1992. "Economic Incentives for Environmental Protection: Integrating Theory and Practice," American Economic Review, American Economic Association, vol. 82(2), pages 464-468, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    climate change; command and control; cap and trade; international agreement;

    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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