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Incomplete International Climate Agreements: Optimal Carbon Taxes, Market Failures and Welfare Effects

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  • Rolf Golombek
  • Jan Braten

Abstract

This paper provides an empirical study of optimal carbon taxes and welfare effects under incomplete international climate agreements when there are market failures in the cooperating countries. The objective of the group of countries taking part in the international climate agreement is to design carbon taxes that maximize their aggregate net income, subject to a constraint on global C02 emissions. We use a numerical energy model to study scenarios that differ with respect to types of C02 taxes and countries taking part in the climate agreement. We also discuss the impact on regional net income following from different international climate agreements.

Suggested Citation

  • Rolf Golombek & Jan Braten, 1994. "Incomplete International Climate Agreements: Optimal Carbon Taxes, Market Failures and Welfare Effects," The Energy Journal, , vol. 15(4), pages 141-165, October.
    • Handle: RePEc:sae:enejou:v:15:y:1994:i:4:p:141-165
    DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No4-7
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    3. John Pezzey, 1992. "Analysis of Unilateral CO, Control in the European Community and OECD," The Energy Journal, , vol. 13(3), pages 159-171, July.
    4. repec:aen:journl:1992v13-03-a08 is not listed on IDEAS
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