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Economic Implications of Greenhouse Gas Policy

Author

Listed:
  • McKibbin, W.J.
  • Wilcoxen, P.J.

Abstract

This paper summarizes the debate on the costs and benefits of regional and global action to reduce future emissions of greenhouse gases. The paper also presents new evidence on possible future global emissions of carbon dioxide from burning fossil fuels where these emissions are disaggregated by major developed and developing country regions. The basis of the projections is a global simulation model called the G-Cubed model. Given these projections of future emissions, the model is used to estimate the size of carbon taxes necessary to stabilize emissions within each region in the year 2000 at the levels of emissions in 1990. It is shown that the costs of stabilizing carbon dioxide emissions vary across countries when each country stabilizes its own emissions at a 1990 level. These differences in costs reflect differences in the energy intensity of production, differences in the source of energy generation, differences in projections of population growth and different projections of productivity growth.
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Suggested Citation

  • McKibbin, W.J. & Wilcoxen, P.J., 1995. "Economic Implications of Greenhouse Gas Policy," Papers 116, Brookings Institution - Working Papers.
  • Handle: RePEc:fth:brooki:116
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    Cited by:

    1. ANDERSON, KYM & McKIBBIN, WARWICK J., 2000. "Reducing coal subsidies and trade barriers: their contribution to greenhouse gas abatement," Environment and Development Economics, Cambridge University Press, vol. 5(04), pages 457-481, October.
    2. Warwick J. McKibbin, 1998. "International Permit Trading: Creating a Sustainable System," Economics and Environment Network Working Papers 9803, Australian National University, Economics and Environment Network.
    3. McKibbin, Warwick J., 1998. "Greenhouse abatement policy: insights from the G-cubed multi-country model," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(1), March.

    More about this item

    Keywords

    POLLUTION; ENVIRONMENT; ECONOMIC POLICY;

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q29 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Other
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • Q39 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Other

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