The Economics of the Kyoto Protocol

Abstract

In this paper we use the Second Generation Model to develop an assessment of the energy and economic implications of achieving the goals of the Kyoto Protocol. We find that many of the details of the Protocol that remain to be worked out introduce critical uncertainties affecting the cost of compliance. Our analysis shows that the cost of implementing the Protocol in the United States can vary by more than an order of magnitude. The marginal cost in 2010 could be as low as $26 per tonne of carbon if a global system of emissions mitigation could be quickly and effectively implemented. But it could also exceed $250 per tonne of carbon if the United States must meet its emissions limitations entirely through domestic actions, and if mitigation obligations are not adequately anticipated by decision-makers.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 122 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.