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GTAP Resource #527

"Global Impacts of the Kyoto Agreement: Results from the MS-MRT Model"
by Bernstein, P.M., W.D. Montgomery and Thomas Rutherford


Abstract
This paper analyzes the economic impacts on different regions of the world of a global agreement to limit carbon emissions. A multi-sector, multi-region trade model MS-MRT is developed that focuses on the international trade aspects of climate change policy. These include the distribution of impacts on economic welfare, international trade and investment across regions, the spillover effects of carbon emission limits in Annex 1 countries on non-Annex 1 countries, carbon leakage, changes in terms of trade and industry output, and the effects of international emissions trading. Our central estimates are presented with a set of sensitivity tests to assess the extent to which our conclusions depend on elasticity and baseline assumptions. A technical appendix presents algebraic details of the model structure and calibration.

Keywords: Climate; International trade; Emissions trading; General equilibrium models


Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
Status: Published
By/In: Resource and Energy Economics, Volume 21, Issues 3-4
Date: 1999
Version:
Created: (3/27/2001)
Updated: Bacou, M. (1/18/2003)
Visits: 3,524
No keywords have been specified.


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