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Climate policies: a burden or a gain?

  • BRECHET, Thierry

    ()

    (Université catholique de Louvain, CORE and Louvain School of Management, Belgium)

  • TULKENS, Henry

    ()

    (Université catholique de Louvain, CORE, Belgium)

That climate policies are costly is evident and therefore often creates major fears. But the alernative (no action) also has a cost. Mitigation costs and damages incurred depend on what the climate policies are, and in addition, they are substitutes. This brings climate policies naturally in the realm of benefit-cost analysis. In this paper we illustrate the "direct" cost components of various policies, and then confront them with the benefits generated, that is, the damage cost avoided. However, the sheer benefit-cost criterion is not a sufficient incentive to induce cooperation among countries, a necessary condition for an effective global climate policy. Thus, we also explore how to make use of this criterion in the context of international climate cooperation.

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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2013002.

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Date of creation: 22 Feb 2013
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Handle: RePEc:cor:louvco:2013002
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  1. Valentina Bosetti & David G. Victor, 2010. "Politics and Economics of Second-Best Regulation of Greenhouse Gases: The Importance of Regulatory Credibility," Working Papers 2010.29, Fondazione Eni Enrico Mattei.
  2. EYCKMANS, Johan & TULKENS, Henry, . "Simulating coalitionally stable burden sharing agreements for the climate change problem," CORE Discussion Papers RP -1677, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Valentina Bosetti, Carlo Carraro, Marzio Galeotti, Emanuele Massetti, Massimo Tavoni, 2006. "A World induced Technical Change Hybrid Model," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 13-38.
  4. repec:cup:cbooks:9780521715348 is not listed on IDEAS
  5. repec:cup:cbooks:9780521887427 is not listed on IDEAS
  6. Parkash Chander & Henry Tulkens & Jean-Pascal van Ypersele & Stephane Willems, 1999. "The Kyoto Protocol: An Economic and Game Theoretic Interpretation," CESifo Working Paper Series 229, CESifo Group Munich.
  7. BRECHET, Thierry & THENIE, Julien & ZEIMES, Thibaut & ZUBER, Stéphane, . "The benefits of cooperation under uncertainty: the case of climate change," CORE Discussion Papers RP -2435, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. Zili Yang, 2008. "Strategic Bargaining and Cooperation in Greenhouse Gas Mitigations: An Integrated Assessment Modeling Approach," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262240548, June.
  9. Terry Barker and S. Serban Scrieciu, 2010. "Modeling Low Climate Stabilization with E3MG: Towards a 'New Economics' Approach to Simulating Energy-Environment-Economy System Dynamics," The Energy Journal, International Association for Energy Economics, vol. 0(Special I).
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