Some Economics of Global Warming

Jean Tirole

Rivista di Politica Economica, 2008, vol. 98, issue 6, 9-42

Abstract: This paper reflects on the economics and politics of an international climate policy agreement. The international community has so far failed to design institutions and a compensation scheme that would lead to an abatement effort commensurate with the IPCC recommendations that it attempts tofollow. The paper first lays out what could be a proper institutional design, minimizing the impact of abatement on the world consumer’s income, and thereby making the fight against climate change more credible. It then sketches a governance mechanism as well as an approach to compensation. Finally, it concludes with a roadmap for the negotiation.

Keywords: climate change; command and control; cap and trade; international agreement (search for similar items in EconPapers)
JEL-codes: D62 F51 H23 Q54 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:98:y:2008:i:6:p:9-42

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