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Post-Durban Climate Policy Architecture Based on Linkage of Cap-and-Trade Systems

In: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023)

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  • Matthew Ranson
  • Robert N. Stavins

Abstract

The following sections are included:IntroductionTheory of LinkageCharacteristics of Existing and Proposed LinkagesThe Durban Platform and Its Implications for LinkageLinkage as a Climate Policy ArchitectureConclusion

Suggested Citation

  • Matthew Ranson & Robert N. Stavins, 2025. "Post-Durban Climate Policy Architecture Based on Linkage of Cap-and-Trade Systems," World Scientific Book Chapters, in: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023), chapter 20, pages 515-554, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811292415_0020
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    1. Valentina Bosetti & Sergey Paltsev & John Reilly & Carlo Carraro, 2011. "Emissions Pricing to Stabilize Global Climate," Working Papers 2011.80, Fondazione Eni Enrico Mattei.
    2. Robert W. Hahn & Robert Stavins, 1999. "What Has the Kyoto Protocol Wrought? The Real Architecture of Tradable Permit Markets," Books, American Enterprise Institute, number 52837, September.
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    4. Stavins, Robert & Hahn, Robert, 1999. "What Has Kyoto Wrought? The Real Architecture of International Tradable Permit Markets," RFF Working Paper Series dp-99-30, Resources for the Future.
    5. Eric Karpas & Suzi Kerr, 2011. "Preliminary Evidence on Responses to the New Zealand Forestry Emissions Trading Scheme," Motu Working Papers 11_09, Motu Economic and Public Policy Research.
    6. -, 2009. "The economics of climate change," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 38679, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    7. Valentina Bosetti & David Tomberlin, 2004. "Fondazione Eni Enrico Mattei," Working Papers 2004.102, Fondazione Eni Enrico Mattei.
    8. Zhang, Junjie & Wang, Can, 2011. "Co-benefits and additionality of the clean development mechanism: An empirical analysis," Journal of Environmental Economics and Management, Elsevier, vol. 62(2), pages 140-154, September.
    9. Kruger, Joseph & Oates, Wallace E. & Pizer, William A., 2007. "Decentralization in the EU Emissions Trading Scheme and Lessons for Global Policy," RFF Working Paper Series dp-07-02, Resources for the Future.
    10. Helm, Carsten, 2003. "International emissions trading with endogenous allowance choices," Journal of Public Economics, Elsevier, vol. 87(12), pages 2737-2747, December.
    11. Montagnoli, Alberto & de Vries, Frans P., 2010. "Carbon trading thickness and market efficiency," Energy Economics, Elsevier, vol. 32(6), pages 1331-1336, November.
    12. Michael Wara, 2007. "Is the global carbon market working?," Nature, Nature, vol. 445(7128), pages 595-596, February.
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    Citations

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    Cited by:

    1. Bodansky, Daniel M. & Hoedl, Seth A. & Metcalf, Gilbert E. & Stavins, Robert N., "undated". "Facilitating Linkage of Heterogeneous Regional, National, and Sub-National Climate Policies Through a Future International Agreement," Climate Change and Sustainable Development 202114, Fondazione Eni Enrico Mattei (FEEM).
    2. Matthew Ranson & Robert N. Stavins, 2025. "Linkage of Greenhouse Gas Emissions Trading Systems: Learning from Experience," World Scientific Book Chapters, in: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023), chapter 21, pages 557-579, World Scientific Publishing Co. Pte. Ltd..
    3. Michael A. Mehling & Gilbert E. Metcalf & Robert N. Stavins, 2025. "Linking Heterogeneous Climate Policies (Consistent with the Paris Agreement)," World Scientific Book Chapters, in: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023), chapter 24, pages 613-676, World Scientific Publishing Co. Pte. Ltd..
    4. Bernard Caillaud & Gabrielle Demange, 2017. "Joint Design of Emission Tax and Trading Systems," Annals of Economics and Statistics, GENES, issue 127, pages 163-201.
    5. Sabine Aresin, 2015. "Monitoring Abatement in the Presence of an Import Quota on CERs," Working Papers tax-mpg-rps-2015-11, Max Planck Institute for Tax Law and Public Finance.
    6. Richard Schmalensee & Robert N. Stavins, 2025. "Lessons Learned from Three Decades of Experience with Cap and Trade," World Scientific Book Chapters, in: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023), chapter 9, pages 235-264, World Scientific Publishing Co. Pte. Ltd..
    7. Bosello, Francesco & Parrado, Ramiro, "undated". "Climate Change Impacts and Market Driven Adaptation: the Costs of Inaction Including Market Rigidities," Climate Change and Sustainable Development 183634, Fondazione Eni Enrico Mattei (FEEM).
    8. Holtsmark, Katinka & Midttømme, Kristoffer, 2021. "The dynamics of linking permit markets," Journal of Public Economics, Elsevier, vol. 198(C).
    9. Ibikunle, Gbenga & Gregoriou, Andros & Hoepner, Andreas G.F. & Rhodes, Mark, 2016. "Liquidity and market efficiency in the world's largest carbon market," The British Accounting Review, Elsevier, vol. 48(4), pages 431-447.
    10. Kamleshan Pillay & Jorge E. Viñuales, 2016. "“Monetary” rules for a linked system of offset credits," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 16(6), pages 933-951, December.
    11. Eva-Maria Mauer, 2016. "Linking von Emissionshandelssystemen: Die EU als Vorreiter für einen globalen CO2-Markt?," Discussion Paper Series RECAP15 25, RECAP15, European University Viadrina, Frankfurt (Oder).
    12. Susan Spierre Clark & Thomas P. Seager & Evan Selinger, 2015. "A development-based approach to global climate policy," Environment Systems and Decisions, Springer, vol. 35(1), pages 1-10, March.
    13. Aurélie Méjean & Franck Lecocq & Yacob Mulugetta, 2015. "Equity, burden sharing and development pathways: reframing international climate negotiations," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 15(4), pages 387-402, November.
    14. Manikas, Andrew S. & Kroes, James R., 2015. "A newsvendor approach to compliance and production under cap and trade emissions regulation," International Journal of Production Economics, Elsevier, vol. 159(C), pages 274-284.

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    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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