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The Kyoto Protocol, market power, and enforcement

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  • Alan de Brauw

Abstract

The Kyoto Protocol aims to limit aggregate carbon emissions by participating countries to 1990 emissions levels in aggregate. It also allows for the creation of a permit market in which countries will be able to buy and sell the right to emit carbon dioxide. This paper investigates how market power, held by the countries of the former Soviet Union, and enforcement of the carbon emission limits might affect the abatement and the cost of compliance with the Kyoto Protocol. To do so, it uses a modified version of the van Egteren-Weber (1996) model to investigate a permit market in the presence of both market power and enforcement difficulties. It then simulates the model, finding that if meeting abatement targets is the goal, regulating the supply side of the market and convex fine schedules are the most effective tools.

Suggested Citation

  • Alan de Brauw, 2006. "The Kyoto Protocol, market power, and enforcement," Applied Economics, Taylor & Francis Journals, vol. 38(18), pages 2169-2178.
  • Handle: RePEc:taf:applec:v:38:y:2006:i:18:p:2169-2178
    DOI: 10.1080/00036840600895442
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    References listed on IDEAS

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    1. Ellerman, A. Denny & Jacoby, Henry D. & Decaux, Annelene, 1998. "The effects on developing countries of the Kyoto Protocol and carbon dioxide emissions trading," Policy Research Working Paper Series 2019, The World Bank.
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    Cited by:

    1. Jaehn, Florian & Letmathe, Peter, 2010. "The emissions trading paradox," European Journal of Operational Research, Elsevier, vol. 202(1), pages 248-254, April.
    2. Chongwoo Choe & Charles E. Hyde, 2007. "Multinational Transfer Pricing, Tax Arbitrage and the Arm's Length Principle," The Economic Record, The Economic Society of Australia, vol. 83(263), pages 398-404, December.

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