Global refunding and climate change

摘要: Abstract We design a global refunding scheme as new international approach to address climate change. Participating in the system requires an initial payment. It allows each country set its carbon emission tax, while aggregate tax revenues are partially refunded member countries proportion relative reductions they achieve within given period. The reduces intertemporal change problem into static public goods problem. In simple model we show that suitably designed achieves social optimum, provided all participate. discuss several procedures participation.