The Calculus of Climate Policy

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The book explores various policy instruments aimed at reducing carbon emissions in the face of climate change. It examines taxes, emissions trading schemes, and renewable energy incentives through analytical models and a comprehensive computable general equilibrium model. The findings suggest that while a carbon price is crucial in the long run, targeted subsidies for low-carbon technologies can enhance efficiency and address market failures. The analysis offers insights into the optimal policy mix necessary for effective climate change mitigation, contributing to ongoing political discussions.