Requiem for Kyoto: An Economic Analysis of the Kyoto Protocol

摘要: This paper uses the newly developed RICE-98 model to analyze economics of Kyoto Protocol. It analyzes versions Protocol that have different approaches trading emissions rights and compares these with efficient approaches. The major conclusions are: (a) net global cost is $716 billion in present value, (b) United States bears almost two-thirds cost; (c) benefit-cost ratio 1/7. Additionally, strategy highly costineffective, temperature reduction achieved at a 8 times which cost-effective terms “where” “when” efficiency. These assume carbon permits allowed among Annex I countries.