OECD Economics Department Working Papers
Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.
The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.
- Forthcoming titles
- ISSN : 18151973 (en ligne)
- https://doi.org/10.1787/18151973
The Economics of Climate Change Mitigation
How to Build the Necessary Global Action in a Cost-Effective Manner
This paper examines the cost of a range of national, regional and global mitigation policies and the
corresponding incentives for countries to participate in ambitious international mitigation actions. The
paper illustrates the scope for available instruments to strengthen these incentives and discusses ways to
overcome barriers to the development of an international carbon price, based on the quantitative
assessment from two global and sectorially-disaggregated CGE models. Key step towards the emergence
of a single international carbon price will most likely involve the phasing out of subsidies of fossil fuel
consumption and various forms of linking between regional carbon markets, ranging from direct linking of
existing emission trading systems to more indirect forms through the use of sectoral crediting mechanisms.
The paper discusses regulatory issues raised by the expansion of emission trading and crediting schemes as
well as the complementary contribution of non-market based instruments such as the imposition of
technical standards and R&D policies. Finally, the paper emphasises the important role of international
transfers, not least to overcome the relatively strong economic incentives in some countries to free ride on
other regions mitigation actions. While they can take various explicit or implicit forms, transfers made
primarily through market mechanisms, for instance via the allocation of binding emission reduction
commitments across countries, would be most cost-effective.
Mots-clés: climate policy, climate change, carbon leakage, deforestation, sectoral approach, energy subsidies, crediting mechanism
JEL:
O13: Economic Development, Innovation, Technological Change, and Growth / Economic Development / Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products;
Q32: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Nonrenewable Resources and Conservation / Exhaustible Resources and Economic Development;
O3: Economic Development, Innovation, Technological Change, and Growth / Innovation; Research and Development; Technological Change; Intellectual Property Rights;
Q54: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Environmental Economics / Climate; Natural Disasters and Their Management; Global Warming;
H23: Public Economics / Taxation, Subsidies, and Revenue / Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies;
Q34: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Nonrenewable Resources and Conservation / Natural Resources and Domestic and International Conflicts;
H41: Public Economics / Publicly Provided Goods / Public Goods
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