Contents
This paper answers the following questions – - Briefly introduce the problem of climate change and summarize the global warming controversy.
- Briefly discuss some of the most likely economic consequences of global warming.
- Detail the effect on welfare and incomes of imposing tariffs on goods produced by the top polluting countries?
- What is a market failure and how does it relate to global warming?
- Define externality and give an example of a positive externality and a negative externality.
- Using examples, explain what the other market failures are.
- Explain why a commitment to a binding carbon price target is a better option than a carbon emission cap.
- Some argue it is unfair to impose emission caps to developing countries since today’s rich countries did not have such caps. Discuss.
- The success of designing a carbon price mechanism depends on two Crucial internationally negotiated parameters: (I) the price target, and (ii) The Green Fund incentive. Explain.
- References
Description
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