An “ Ideal ” Kyoto Protocol : Emissions Trading , Redistributive Transfers and Global Participation

@inproceedings{Caplan2003AnI,
  title={An “ Ideal ” Kyoto Protocol : Emissions Trading , Redistributive Transfers and Global Participation},
  author={Arthur J. Caplan and Richard C. Cornes and Emilson C. D. Silva},
  year={2003}
}
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… CONTINUE READING