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Can an Effective Global Climate Treaty Be Based on Sound Science, Rational Economics, and Pragmatic Politics AgEcon
Stavins, Robert N..
The Kyoto Protocol (1997) to the United Nations Framework Convention on Climate Change (1992) may come into force without U.S. participation, but its effects on climate change will be trivial. At the same time, the economic and scientific consensus points to the need for a credible international approach. A reasonable starting point is the Framework Convention on Climate Change (FCCC), which was signed by 161 nations and ratified by 50, including the United States, and entered into force in 1994. In this paper, I remain agnostic on the question of the Kyoto Protocol's viability. Some analysts see the agreement as deeply flawed, while others see it as an acceptable or even excellent first step. But virtually everyone agrees that the Protocol is not...
Tipo: Working or Discussion Paper Palavras-chave: Global climate change; Global warming; Policy architecture; Kyoto Protocol; Environmental Economics and Policy; Q54; Q58; Q48; Q39.
Ano: 2004 URL: http://purl.umn.edu/10720
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Depreciation erodes the Coase Conjecture AgEcon
Karp, Larry S..
If a durable good monopolist produces at constant marginal costs and the good depreciates, there exists a family of Strong Markov Perfect Equilibrium (SMPE) with an infinitesimal period of commitment. One member of this family entails instantaneous production of the level of stock produced in a competitive equilibrium; this is consistent with the Coase Conjecture. Other SMPE in the family entail steady state production at a stock level lower than in the competitive equilibrium. In these equilibria, there may be a jump to the steady state, or the steady state may be approached asymptotically. Monopoly profits are positive in these equilibria, and the Coase Conjecture fails. We contrast this result to other papers which use non-Markov strategies to construct...
Tipo: Working or Discussion Paper Palavras-chave: Coase Conjecture; Depreciation; Multiple Markov Equilibria; Industrial Organization; Research Methods/ Statistical Methods; D42; L12; Q39.
Ano: 1995 URL: http://purl.umn.edu/6115
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Farmers' Subjective Valuation of Subsistence Crops: The Case of Traditional Maize in Mexico AgEcon
Arslan, Aslihan; Taylor, J. Edward.
Shadow prices guide farmers' resource allocations, but for subsistence farmers growing traditional crops, shadow prices may bear little relationship with market prices. We econometrically estimate shadow prices of maize using data from a nationally representative survey of rural households in Mexico. Shadow prices are significantly higher than the market price for traditional but not improved maize varieties. They are particularly high in the indigenous areas of southern and southeastern Mexico, indicating large de facto incentives to maintain traditional maize there.
Tipo: Working or Discussion Paper Palavras-chave: Shadow prices; Non-market values; Supply response; Traditional crops; Onfarm conservation; Mexico; Agricultural and Food Policy; Community/Rural/Urban Development; International Development; O12; O13; Q12; Q39.
Ano: 2008 URL: http://purl.umn.edu/44488
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Three Key Elements of Post-2012 International Climate Policy Architecture AgEcon
Olmstead, Sheila M.; Stavins, Robert N..
We describe three essential elements of an effective post-2012 international global climate policy architecture: a means to ensure that key industrialized and developing nations are involved in differentiated but meaningful ways; an emphasis on an extended time path of targets; and inclusion of flexible market-based policy instruments to keep costs down and facilitate international equity. This architecture is consistent with fundamental aspects of the science, economics, and politics of global climate change; addresses specific shortcomings of the Kyoto Protocol; and builds upon the foundation of the United Nations Framework Convention on Climate Change.
Tipo: Working or Discussion Paper Palavras-chave: Global Climate Change; Global Warming; Policy Architecture; Kyoto Protocol; Environmental Economics and Policy; Q54; Q58; Q48; Q39.
Ano: 2010 URL: http://purl.umn.edu/93412
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