Can Negotiating a Uniform Carbon Price Help to Internalize the Global Warming Externality?

By Martin Weitzman. Journal of the Association of Environmental and Resource Economists, 2014

201 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/cd5068821db9132d175920639c283e87030ed754

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Citations in the corpus

Carbon pricing in climate policy: seven reasons, complementary instruments, and political economy considerations (2017, background): “Two relevant insights should be added to this.(97) First, whereas quantity negotiations involving n countries imply dealing with an at least n-dimensional coordination problem, focusing on a global carbon price comes down to a much simpler, one-dimensional negotiation challenge.”
The Pricing of Carbon Risk in Syndicated Loans: Which Risks are Priced and Why? (2021, background): “Further, from the viewpoint of a creditor bank, carbon taxes are arguably an instrument that has a high probability of being implemented on a broad scale in practice (Weitzman (2014)).”
Negotiating effective institutions against climate change (2015, unknown): “…abates its emissions by 80%, since the global damages of 100 $/tCO2 exceeds the cheaper marginal 13 See Cramton and Soft (2012), Cramton, Ockenfels and Stoft (2015), Weitzman (2013, 2015), and the papers in …”
Designing an effective climate-policy mix: accounting for instrument synergy (2021, background): “, 2017; Schmidt and Sewerin, 2019), in turn possibly discouraging them to implement strong regulation/pricing instruments (Weitzman, 2014).”
Beyond carbon pricing: the role of banking and monetary policy in financing the transition to a low-carbon economy (2015, background): “The first and foremost policy usually indicated as the solution to the low-carbon investment challenge is the introduction of a price on carbon 13 (Nordhaus 2013; Weitzman 2014).”
Carbon emissions trading in China: the evolution from pilots to a nationwide scheme (2015, background): “form of a harmonised carbon tax (Nordhaus, 2006) or a minimum carbon price under a cap-andtrade regime, then it could be set as a floor price (Weitzman, 2014).”
Carbon Pricing: Effectiveness and Equity (2018, background): “In the absence of an international agreement there will not be a uniform world carbon price, whatever appeal uniformity may hold in theory (Weitzman, 2014; Aldy et al., 2016).”
Climate Clubs: Overcoming Free-riding in International Climate Policy † (2015, background): “Moreover, as emphasized by Weitzman (2014), prices serve as a simpler instrument for international negotiations because they have a single dimension, whereas emissions reductions have the dimensionality of the number of regions.”
The Long-Run Discount Rate Controversy (2014, background): “…comes from asymmetric information, or whether people agree to disagree on their fundamental beliefs about the future of civilization.10 If the problem is to aggregate heterogeneous preferences, a better aggregate rule could be to use the preferences of the median voter (see Weitzman 2013).”