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An Ideal Kyoto Protocol: emissions trading, redistributive transfers and global participation

Caplan, Arthur; Cornes, Richard; Silva, Emilson


We demonstrate that an interregional policy scheme featuring trading of carbon dioxide emissions, redistributive resource transfers and global participation, a scheme which we call 'Ideal Kyoto Protocol', yields an efficient equilibrium allocation for a global economy. An altruistic international agency-say, the Global Environment Facility-should operate the resource transfer mechanism. In addition, regional governments should be able to make independent policy commitments regarding how to...[Show more]

CollectionsANU Research Publications
Date published: 2003
Type: Journal article
Source: Oxford Economic Papers


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