Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171512
Authors: 
Gersbach, Hans
Winkler, Ralph
Year of Publication: 
2007
Series/Report no.: 
Economics Working Paper Series 07/69
Abstract: 
We design a global refunding scheme as a new international approach to address climate change. A global refunding system allows each country to set its carbon emission tax, while aggregate tax revenues are partially refunded to member countries in proportion to the relative emission reductions they achieve within a given period, compared to some given baseline emissions. In a simple model we show that a suitably designed global refunding scheme is self-enforcing and achieves the social global optimum
Subjects: 
climate change mitigation
global refunding scheme
international agreements
self-enforcing mechanisms
JEL: 
H23
Q54
H41
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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