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dc.contributor.authorAnger, Nielsen_US
dc.contributor.authorBöhringer, Christophen_US
dc.contributor.authorMoslener, Ulfen_US
dc.date.accessioned2009-02-16T14:57:44Z-
dc.date.available2009-02-16T14:57:44Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/24586-
dc.description.abstractThis paper quantifies the macroeconomic impacts of the Clean Development Mechanism (CDM) under the Kyoto Protocol based on a computable general equilibrium (CGE) model of international trade and energy use. Employing project-based CDM supply data we assess the relative importance of transaction costs and investment risks as well as CDM regulations through supplementarity and additionality criteria. Our numerical results show that the macroeconomic impacts of transaction costs and investment risks are negligible: Given the large supply of cheap project-based emissions credits in developing countries, compliance to the Kyoto Protocol can be achieved at a very low cost. However, regulatory restrictions such as a supplementarity criterion can substantially curtail the potential efficiency gains from where-flexibility in climate policy.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 07-026en_US
dc.subject.jelC68en_US
dc.subject.jelQ58en_US
dc.subject.jelQ56en_US
dc.subject.jelD61en_US
dc.subject.ddc330en_US
dc.subject.keywordKyoto Protocolen_US
dc.subject.keywordEmissions Tradingen_US
dc.subject.keywordClean Development Mechanismen_US
dc.subject.keywordComputable General Equilibriumen_US
dc.titleMacroeconomic Impacts of the Clean Development Mechanism: The Role of Investment Barriers and Regulationsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn529240335en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:5589-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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