The problem with internationally tradeable emission permits for greenhouse gas abatement
The next major round of international negotiations on controlling global climate change is to be held later this year in Kyoto. The focus of talks to date has been on policies to reduce worldwide carbon dioxide emissions to 1990 levels and hold them there. A proposal by the United States would achieve this by creating a system of internationally tradable emissions permits. Although the U.S. proposal has attractive features and has been endorsed by a number of prominent economists, it has...[Show more]
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