Permit Trading Under the Kyoto Protocol and Beyond
نویسندگان
چکیده
The Kyoto Protocol is seen by many as a step forward in reaching the UNFCCC goals of slowing emissions of greenhouse gases. In this paper we argue that the issue of regime sustainability in developing the Kyoto approach to climate change has received too little attention. We question the sustainability of the Kyoto Protocol and suggest an alternative approach that is more politically and economically sustainable. We also present results from the G-Cubed multi-country model that demonstrate a permit trading system within the Kyoto Protocol offers large gains and improves the sustainability of the regime. We also propose a permit trading system as part of the solution to climate change policy however in a very different form to those currently being discussed. Warwick J. McKibbin Peter J. Wilcoxen Division of Economics Economics Department Asian Pacific School of Economics & Management University of TexasAustin & Research School of Pacific & Asian Studies Austin TX 78712 Australian National University USA ACT 0200 AUSTRALIA & Economic Studies The Brookings Institution 1775 Massachusetts Ave NW Washington DC 20036 USA
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