Sharing the Cost of Global Warming

For meteorological reasons, the distribution of climate-change damage bears no relationship to the distribution of emissions across the globe. We argue in favor of offsetting this discrepancy. We propose a global insurance scheme of sorts, to be financed according to countries' responsibilities...

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Bibliographic Details
Published in:The Scandinavian journal of economics 2011-12, Vol.113 (4), p.758-783
Main Authors: de Villemeur, Etienne Billette, Leroux, Justin
Format: Article
Language:English
Subjects:
Analysis
Carbon dioxide emissions
Climate change
Climate change policy
Cost sharing
D62
D63
Economic costs
Economic externalities
Economic policy
egalitarian liberalism
Emissions
Frost damage
Global warming
International
Pollutant emissions
Population characteristics
Q54
responsibility
Studies
Taxation
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Summary:For meteorological reasons, the distribution of climate-change damage bears no relationship to the distribution of emissions across the globe. We argue in favor of offsetting this discrepancy. We propose a global insurance scheme of sorts, to be financed according to countries' responsibilities in the matter. We analyze this horizontal equity problem using a responsibility/compensation framework, which we have adapted to a context of externalities.We characterize new versions of two well-known cost-sharing schemes.
ISSN:0347-0520
1467-9442
1467-9442
DOI:10.1111/j.1467-9442.2011.01675.x