Arbeitspapier

Sustainable climate treaties

We examine a global refunding scheme for mitigating climate change. Countries pay an initial fee into a global fund that is invested in long-run assets. In each period, part of the fund is distributed among the participating countries in relation to the emission reductions they have achieved in this period. We identify two possible types of sustainable treaty. A first-best sustainable treaty involves varying amounts of refunded wealth and a minimal amount of initial fees inducing socially desirable batement efforts in each period. In a secondbest sustainable treaty with only two parameters - optimally selected initial fees and constant refunds equal to the interest earned on the fund - the stock of greenhouse gases converges to the socially optimal stock. Finally, we suggest ways for countries to raise money for the payment of initial fees that are neutral to tax payers and international capital markets.

Sprache
Englisch

Erschienen in
Series: Discussion Papers ; No. 11-05

Klassifikation
Wirtschaft
Climate; Natural Disasters and Their Management; Global Warming
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Public Goods
Thema
climate change mitigation
refunding scheme
international agreements
sustainable treaty
Klimawandel
Umweltabkommen
Nachhaltigkeit
Rechtsdurchsetzung
Umweltabgabe
International
Theorie

Ereignis
Geistige Schöpfung
(wer)
Gersbach, Hans
Hummel, Noemi
Winkler, Ralph
Ereignis
Veröffentlichung
(wer)
University of Bern, Department of Economics
(wo)
Bern
(wann)
2011

Handle
Letzte Aktualisierung
20.09.2024, 08:21 MESZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Gersbach, Hans
  • Hummel, Noemi
  • Winkler, Ralph
  • University of Bern, Department of Economics

Entstanden

  • 2011

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