Designing Climate Mitigation Policy

This paper provides (for the nonspecialist) a highly streamlined discussion of the main issues, and controversies, in the design of climate mitigation policy. The first part of the paper discusses how much action to reduce greenhouse gas emissions at the global level is efficient under both the cost...

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Bibliographic Details
Published in:Journal of economic literature 2010-12, Vol.48 (4), p.903-934
Main Authors: Aldy, Joseph E., Krupnick, Alan J., Newell, Richard G., Parry, Ian W. H., Pizer, William A.
Format: Article
Language:English
Subjects:
Carbon emissions
Climate change
Climate change policy
Climate models
Cost analysis
Cost-effectiveness
Developing countries
Economic costs
Emissions control
Emissions policy
Emissions trading
Energy modeling
Environmental policy
Environmental protection
GDP
Global warming
Greenhouse effect
Greenhouse gases
Gross Domestic Product
Income taxes
LDCs
Pollutant emissions
Pollution control
Studies
Technological change
Welfare
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Summary:This paper provides (for the nonspecialist) a highly streamlined discussion of the main issues, and controversies, in the design of climate mitigation policy. The first part of the paper discusses how much action to reduce greenhouse gas emissions at the global level is efficient under both the cost-effectiveness and welfare-maximizing paradigms. We then discuss various issues in the implementation of domestic emissions control policy, instrument choice, and incentives for technological innovation. Finally, we discuss alternative policy architectures at the international level.
ISSN:0022-0515
2328-8175
DOI:10.1257/jel.48.4.903