Designing Climate Mitigation Policy

52 Pages Posted: 3 Jun 2009 Last revised: 20 Jul 2010

See all articles by Joseph E. Aldy

Joseph E. Aldy

Harvard Kennedy School; National Bureau of Economic Research; Resources for the Future; Harvard University - Harvard Kennedy School (HKS)

Alan Krupnick

Resources for the Future

Richard G. Newell

Duke University - Nicholas School of Environment; National Bureau of Economic Research (NBER); Resources for the Future

Ian W. H. Parry

Resources for the Future

William A. Pizer

Duke University

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Date Written: June 2009

Abstract

This paper provides an exhaustive review of critical issues in the design of climate mitigation policy by pulling together key findings and controversies from diverse literatures on mitigation costs, damage valuation, policy instrument choice, technological innovation, and international climate policy. We begin with the broadest issue of how high assessments suggest the near and medium term price on greenhouse gases would need to be, both under cost-effective stabilization of global climate and under net benefit maximization or Pigouvian emissions pricing. The remainder of the paper focuses on the appropriate scope of regulation, issues in policy instrument choice, complementary technology policy, and international policy architectures.

Suggested Citation

Aldy, Joseph E. and Krupnick, Alan and Newell, Richard G. and Parry, Ian W. H. and Pizer, William A., Designing Climate Mitigation Policy (June 2009). NBER Working Paper No. w15022. Available at SSRN: https://ssrn.com/abstract=1413586

Joseph E. Aldy (Contact Author)

Harvard Kennedy School

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HOME PAGE: http://www.hks.harvard.edu/about/faculty-staff-directory/joseph-aldy

National Bureau of Economic Research

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Resources for the Future

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HOME PAGE: http://www.hks.harvard.edu/about/faculty-staff-directory/joseph-aldy

Harvard University - Harvard Kennedy School (HKS) ( email )

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Alan Krupnick

Resources for the Future ( email )

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Richard G. Newell

Duke University - Nicholas School of Environment ( email )

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National Bureau of Economic Research (NBER) ( email )

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Resources for the Future ( email )

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Ian W. H. Parry

Resources for the Future ( email )

1616 P Street, NW
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202-939-3460 (Fax)

HOME PAGE: http://www.rff.org/~parry

William A. Pizer

Duke University ( email )

100 Fuqua Drive
Durham, NC 27708-0204
United States

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