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Table of Contents
Preface: Change the Game
Three Introductory Chapters
1 Why Paris Did Not Solve the Climate Dilemma
2 Price Carbon—I Will If You Will* 3 Reflections on the International Coordination of Carbon Pricing
Nine Perspectives on Cooperation and Global Carbon Pricing
4 Global Carbon Pricing
5 The Case for Pricing Greenhouse Gas Emissions*
6 Overcoming the Copenhagen Failure with Flexible Commitments*
7 Climate Clubs and Carbon Pricing*
8 How a Minimum Carbon-Price Commitment Might Help to Internalize the Global Warming Externality
9 Climate Policy at an Impasse
10 Effective Institutions against Climate Change
11 From the Paris Agreement to the Carbon Convergence 12 An International Carbon-Price Commitment Promotes Cooperation
List of Tables
Table 4.1 Comparing Global Commitments: Cap-and-Trade versus Carbon Pricing
Table 10.1 National Emissions per Capita in 2011.
Table 11.1 2013 CO 2 Emissions
List of Illustrations
Figure 3.1 Welfare Effect of a Carbon Charge in a Fuel Market
Figure 3.2 Prior Air Pollution Regulation and the Welfare Effect of a Carbon Charge
Figure 3.3 Nationally Efficient CO 2 Prices, 2010. Note: Top 20 averages across countries weighting by their emissions shares.
Source: Parry, Veung, and Heine (2014).
Figure 3.4 Effective Carbon Prices, Selected Countries 2010
Source: Author’s calculations using data compiled in Parry, Veung, and Heine (2014).
Figure 4.1 Oil price impact on US CO 2 emissions
Figure 4.2 Pricing of carbon emissions
Figure 4.3 Prediction-error trading costs
Figure 7.1 Number of participating regions by international target carbon price and tariff rate: The four sets of bars are the model results for four different international target carbon prices, running from left to right as shown at the bottom. The 11 bars within each set are the penalty tariff rates, running from 0% to 10%. Note that each set has zero participants for a 0% tariff. The vertical scale shows the number of participants. These results are based on the author’s C-DICE model. For the source, see Nordhaus, “Climate Clubs,” in the references.
Figure 10.1 Emissions of CO 2 since 1750.
Source: IPCC (2014).
Figure 10.2 Past consumption and current reserves of fossil fuels.
Source: Figure 1.7 in IPCC (2011)—simplified by Working Group 3 Technical Support Unit.
Figure 10.3 Density function for the SCC (in $/tC).
Source: Nordhaus (2011).
Figure 10.4 Evolution of carbon price on the EU ETS.
Source: Climate Economics Chair from ICE ECX data.
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