The Assessment: Climate-Change Policy.
The paper provides a guide to climate-change policy, and, in particular, the three core components: targets, instruments, and institutional structures. First, the optimal path for reducing carbon-dioxide (CO2) emissions, and the role of the social cost of carbon in the estimation and revision of the path are set out. Second, the policy instruments, or combination of instruments--taxes, permits, and command-and-control--which are likely to be most efficient within the political constraints are...Expand abstract
- Oxford Review of Economic Policy
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