Valuing Tradable CO2 Permits for OECD Countries

Larry Karp and Xuemei Liu
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Xuemei Liu: Agricultural and Resource Economics,University of California, Berkeley

No 1999.31, Working Papers from Fondazione Eni Enrico Mattei

Abstract: We estimate a structural model of OECD countries in which GDP and CO2 emissions are endogenous. We use the estimated model to simulate the price of tradable CO2 permits and the efficiency gains from trade. Our estimated prices are high, relative to previous estimates, and the efficiency gains are substantial. We also find, contrary to previous literature, that higher income is associated with reduced emissions.

Keywords: Tradable permits; Greenhouse gases; Carbon reductions; Environmental Kuznets curve (search for similar items in EconPapers)
JEL-codes: F17 Q28 Q43 (search for similar items in EconPapers)
Date: 1999-03
New Economics Papers: this item is included in nep-acc, nep-ene, nep-env and nep-pbe
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Related works:
Working Paper: Valuing Tradeable CO2 Permits for OECD Countries (1999)
Working Paper: VALUING TRADEABLE CO2 PERMITS FOR OECD COUNTRIES (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:1999.31

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