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Title:Economic analysis of international climate cooperation
Author(s):Yang, Bei
Director of Research:Williams, Steven
Doctoral Committee Chair(s):Williams, Steven
Doctoral Committee Member(s):Singer, Clifford; Bernhardt, Mark Daniel; Krasa, Stefan; Lemus, Jorge
Department / Program:Economics
Degree Granting Institution:University of Illinois at Urbana-Champaign
Subject(s):Climate change
Game theory
Abstract:I develop and estimate an integrated model of global climate and regional economies to study international cooperation on net-zero carbon emission among sixteen geographic regions. I find that achieving net-zero emission by mid-century reduces global social welfare loss by up to 35%, accounting for the emission reduction cost. However, I show that this international cooperation suffers the "tragedy-of-commons" problem due to the positive externality of emission reduction policies. I then combine theory and numerical simulations to study the effectiveness of trigger strategies and transfer payments in resolving this problem. The results presented here, however, suggest that they may not be sufficient to sustain global cooperation for achieving net-zero carbon emission by mid-century.
Issue Date:2021-04-19
Rights Information:Copyright 2021 Bei Yang
Date Available in IDEALS:2021-09-17
Date Deposited:2021-05

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