February 28, 2007
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Global Climate Change Digest
A Guide to Information on Greenhouse Gases and Ozone Depletion
Published July 1988 through June 1999
FROM VOLUME 10, NUMBER 10, OCTOBER 1997
POLICY & ECONOMICS
"Joint Implementation: An Effective Strategy for Combating Global
Warming?" L.D.D Harvey (Dept. Geog., Univ. Toronto, 100 St. George
St., Toronto ON M5S 3G3, Can.; e-mail: firstname.lastname@example.org), E.J.
Bush,Environment, 39(8), 14-20; 36-44, Oct. 1997.
This extensive critical look at the underlying assumptions and practical
difficulties associated with this hotly debated policy mechanism raises
questions about its long-term effectiveness. Nevertheless, joint
implementation should be encouraged until such time as an effective global
warming regime can be created.
"Climate Change and the Insurance Industry: The Cost of Increased
Risk and the Impetus for Action," M. Tucker (Dept. Finance, Fairfield
Univ., Fairfield CT 06430; e-mail: email@example.com),Ecol.
Econ., 22(2), 85-96, Aug. 1997.
A convincing economic argument for taking action to ameliorate climate
change has not developed. This study applied an option pricing model to
show how anticipated increases in damage to insured assets will justify
higher insurance premiums, which in turn will bolster the argument for
immediate policy steps against climate change.
"Environmental Taxes and Quotas in the Presence of Distorting Taxes
in Factor Markets," I.W.H. Parry (Resources for the Future, 1616 P
St. NW, Washington DC 20036),Resource & Energy Econ., 19(3),
203-220, Aug. 1997.
This technical economic analysis compares the welfare effects of
environmental taxes with those of non-auctioned environmental quotas, in
the presence of a pre-existing tax on labor income. Complications posed by
pre-existing tax distortions can be a key factor in instrument choice, a
result with implications for choosing between a carbon tax and a system of
freely allocated carbon permits.
"Carbon Taxes and India," K.A. Fisher-Vanden (JFK School of
Govt., Belfer 403, 79 JFK St., Cambridge MA 02138; e-mail:
firstname.lastname@example.org), P.R. Shukla et al.,Energy Economics, 19(3),
289-325, July 1997.
Uses the Indian module of the Second Generation Model to explore three
scenarios in which greenhouse gases are controlled (at one, two, and three
times 1990 levels). Compares the costs of stabilizing emissions at these
levels using carbon taxes or domestic tradable permits, taking into
account India's rapidly growing population and the relative abundance of
coal and biomass. Also examines the impacts of a global tradable permits
market. The latter (i.e., a global policy) would benefit India more than
any independent actions.
"Distribution of Potential Gains from International Environmental
Agreements: The Case of the Greenhouse Effect," M. Escapa (Dpto. de
Fundamentos del Análisis Econ., Univ. del País, Bilbao,
Spain), M.J. Gutíerrez,J. Environ. Econ. & Mgmt., 33(1),
1-16, May 1997.
Countries worldwide stand to gain if they cooperate in reducing
aggregate greenhouse emissions, because the overall goal can be met at
lower cost. This analysis quantifies how this gain would be distributed
among countries. Contrary to previous analyses, it considers different
weighting as well as equal weighting of the welfare functions of various
Special issue. ENERGY-ENVIRONMENTAL MODELLING, Energy
Economics, 19(1), D.W. Bunn, E. Larson, K. Vlahos, Eds., Mar.
1997. Contains reviewed papers from the Symposium on Energy models for
Policy and Planning (London, 1995).
"Economic Growth, International Competitiveness and Environmental
Protection: R&D and Innovation Strategies with the WARM Model,"
C. Carraro (Dept. Econ., Univ. Venice, Ca 'Foscari, 30123 Venice, Italy),
M. Galeotti, 2-28. An economic general equilibrium model applied to the
European Union shows that policies to stimulate environmental R&D,
technological innovation and diffusion may provide firms with proper
incentives while preserving their competitiveness, and would have positive
effects on economic growth.
"Are Environmental Taxes a Free Lunch? Issues in Modelling the
Macroeconomic Effects of Carbon Taxes," N. Mabey (London Business
School, Sussex Pl., Regent's Pk., London NW3 4LL, UK), J. Nixon, 29-56.
"General Multi-Product, Multi-Pollutant Market Pollution Permit
Model: A Variational Inequality Approach," A. Nagurney (Dept.
Finance, Sch. Management, Univ. Massachusetts, Amherst MA 01003), K.K.
Dhanda, J.K. Stranlund, 57-76.
"The Page95 Model: Integrating the Science and Economics of Global
Warming," E.L. Plambeck (Dept. of Eng. Econ. Systems, Stanford Univ.,
Stanford CA 94304), C. Hope, J. Anderson, 77-101. Updates the policy
analysis of global warming performed with the original PAGE model in 1992,
by incorporating these subsequent scientific developments: the cooling
effect of sulfate particles, the low net warming effect of halocarbons,
and improved regional impact estimates.
"Dynamic Energy and Environment Equilibrium Model for the
Assessment of CO2 Emission Control in Canada and the USA,"
W. Chung (Dept. Mgmt. Sci., Univ. Waterloo, 200 University Ave., Waterloo
ON N2L 3G1, Can.), Y.J. Wu, J.D. Fuller, 103-124. Model results show that
delaying a CO2 emission control program can be very costly,
and that the Toronto conference target (50% reduction in 1988 CO2
emissions by 2030) is impossible to meet without significant changes in
fuels, technologies or lifestyles.
"Stabilizing Energy Related CO2 Emissions for India,"
S. Gupta (Tata Energy Res. Inst., Habitat Pl., Lodi Rd., New Delhi 110
003, India), S. Hall, 125-150. Concludes that a combination of
macroeconomic policies and micro-level investments are required to achieve
substantial emission reductions in the medium term.
"Population and Global Warming With and Without CO2
Targets," S.R. Gaffin (Environ. Defense Fund, 275 Park Ave. S, New
York NY 10010), B.C. O'Neill, Population & Environ., 18(4),
389-413, Mar. 1997.
Uses an integrated climate-economics model to explore the sensitivity of
future global warming to variable population growth rates, to contribute
to the ongoing debate over the extent to which climate change should be
added to the list of concerns surrounding population growth. In the
absence of specified atmospheric targets, projected CO2 levels
in the year 2150 show great sensitivity to population. With targets
imposed, results show that stabilization of atmospheric CO2 at
a level much lower than 550 ppm requires steep emissions cuts that are
only weakly affected by the full range of variable population growth
"The Energy Subregion as a Basis for Greenhouse Policy," N.
Grollman (Dept. Geog. & Environ. Sci., Monash Univ., Clayton, VIC
3168, Australia),Energy Policy, 25(4), 459-467, Mar. 1997.
Advocates the concept of the "energy subregion" as an
appropriate framework for reducing energy-related greenhouse gas
emissions, because unilateral global measures tend to founder. It links
populations and their energy needs to specific energy resources,
infrastructure, sectoral demands and other conditions, and enables
emission reduction measures to be implemented at an organizational level
commensurate with differing resource levels and with the decision-making
powers of key players. This concept also encourages an approach which
reduces the dependence of the developing South on the industrialized
North. Presents examples from the East Asia/Pacific region.
"Negotiating an Agreement on Global Warming: A Theoretical Analysis,"
Z. Chen (Dept. Econ., Carleton Univ., Ottawa ON K1S 5B6, Can.),J.
Environ. Econ. & Mgmt., 32(2), 170-188, Feb. 1997.
Uses a two-country bargaining model to study how the responsibilities
for combating global warming can be allocated through negotiation. Factors
affecting the outcome include the populations of the countries. Also
"Climate Change and Overlapping Generations," R.B. Howarth
(Dept. Environ. Studies, Univ. California, Santa Cruz, Calif.; e-mail:
email@example.com),Contemporary Econ. Policy, 14(4),
100-111, Oct. 1996.
Examines the interplay between discounting and the distribution of
welfare between generations in formulating climate change response
strategies. The Nordhaus (1994) model for climate policy analysis can be
understood as a reduced form of an overlapping generations model that
embodies more realistic demographic assumptions. This analysis shows that
his results are strongly sensitive to changes in the relative weight
attached to welfare of present vs. future generations, and that imposing
relatively aggressive policies to abate emissions is economically
efficient. Economists can contribute to the analysis of climate policies
by accounting for the complex interplay among economics, ethics, and
public values in framing intergenerational choices.
"A Regional Dynamic General-Equilibrium Model of Alternative
Climate-Change Strategies," W.D. Nordhaus (Dept. Econ., Yale Univ.,
28 Hillhouse Ave., New Haven CT 06511), Z. Yang,Amer. Econ. Rev.,
86(4), 741-765, Sep. 1996.
Presents the Regional Integrated model of Climate and the Economy
(RICE), which analyzes different national strategies in climate change
policy and how they influence those of other countries. Cooperative
policies show much higher levels of emissions reductions than do
noncooperative strategies. There are substantial differences in the levels
of controls in both the cooperative and the noncooperative policies among
different countries, and high-income countries may be the major losers
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Index of Abbreviations