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This assessment of the economic effects of climate change policy, addresses the issues with a quantitative modelling approach. The book goes beyond statements on the efficiency of economic instruments to identify the way gains and losses are distributed; who gains and who loses. Both the costs and benefits of climate change policies are analyzed. Most papers also provide useful information on the economic features of the Kyoto Protocol, its possible extensions, and the effect of different implementation strategies (such as the debate on emissions trading ceilings).
Assessing the Kyoto Protocol: benefits and costs of Kyoto, J. Shogren; the Kyoto protocol - a cost-effective strategy for meeting environmental objectives?, A.S. Manne, R. Richels; negotiating targets, negotiating flex-mex - the economic background of a US-EU controversy, J.C. Hourcade, T. Le Pesant; efficiency of emission trading schemes; international greenhouse gas emission trading - with special reference to the Kyoto Protocol, P. Bohm; efficiency and equity of emission trading with endogenous technical change, P. Buonanno, et al; making CO2 emission trading more effective - integrating cross-sectoral energy efficiency opportunities, J. Albrecht; early crediting of emission reduction - a panacea or Pandora's box?, A. Michaelowa, M. Stronzik; energy market projections and differentiated carbon abatement in the European Union, C. Bohringer, et al; green electricity certificates - a supplement to the flexible mechanisms of the Kyoto Protocol, T. Jeppesen, L. Nielsen. International and intergenerational equity issues: a dynamic analysis of the efficiency and equity of tradeable greenhouse gas emission permits, A.Z. Rose, B. Stevens; equitable cost-benefit analysis of climate change, R. Tol; distributional consequences of alternative emissions trading schemes, F. Bosello, et al. (Part contents).