The Kyoto Protocol: a cost-effective strategy for meeting environmental objective?: discussion

Abstract

This is an invited discussion on the Manne and Richels’ paper “The Kyoto Protocol: A Cost-Effective Strategy for Meeting Environmental Objective”. It focuses on four issues or questions: distributional realities of the international climate change negotiations, correspondence between geopolitical regional aggregates in MERGE and Annex B countries, implications of the autonomous energy efficiency improvement rates assumed in MERGE on the income elasticity of energy consumption, and market power in an international greenhouse gas emissions trading scheme.International climate negotiations; energy efficiency; MERGE; market power; emissions trading