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Early Emissions Reduction Programs: An Application to CO2 Policy AgEcon
Parry, Ian W.H.; Toman, Michael.
In the wake of the December 1997 Kyoto Protocol, which, if implemented, would oblige the United States and other industrialized countries to reduce greenhouse gases (GHGs) by 2008-2012, a number of proposals have been offered to increase the incentives for reducing emissions over the nearer term. The existence of an interim period between setting and implementing environmental goals is ubiquitous in environmental policymaking. The existence of this interim period gives rise to several potential rationales for early emissions reductions. In this paper we use a series of simple models and numerical illustrations to analyze some aspects of the performance of early emissions reduction programs in the case of GHGs. We show that there is a compelling economic...
Tipo: Working or Discussion Paper Palavras-chave: Early reduction credits; Carbon emissions; Welfare impacts; Permit banking; Cap-and-trade; Environmental Economics and Policy; Q28; H23; Q48.
Ano: 2000 URL: http://purl.umn.edu/10791
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