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'Combating Climate Change: Political Economy of Green Paradoxes'

OxCarre Co-Director Professor Rick van der Ploeg and Professor Cees Withagen (Free University Amsterdam)  have been awarded a 5 year ERC Advanced Instigator Grant to carry out research into 'Combating Climate Change: Political Economy of Green Paradoxes.

Climate change is generally deemed one of the most urgent and challenging problems mankind has to deal with.  It has many fascinating facets and a fruitful analysis requires inputs from almost all disciplines, including physics, sociology, biology, philosophy and, last but not least, economics.  The role of economics is important in several respects.  Reducing the emissions of greenhouse gases is costly, but it will decrease the damage thta is likely to be caused by the accumulation of these gases.  Hence there is an economic trade off here.  The benefits and costs of climate policy extend in the far future, implying that we are dealing with a dnyamic problem: intra- as well as integenerational distributional issues come into play, together with spatial considerations, because benefits and costs are typically unevenly distributed over time nad space.  Moreover, climate change is subject to may unertainties, implying that decisions have to be taken under imperfect knowledge.  International environmental agreements are generally deemed necessary to combat climate change when it comes to mitigation.  Economics can also contribure to the theory of negotations and of coalition formation, which is pertinent to international agreements.  Climate change is by now a core topic in economics and in political economy.  The central aim of this reserach proposal is to make an innovative contribution to the design of optimal policies to combat climate change. Please follow the link for further details of the research:  Combating Climate Change

OxCarre Research Papers
Wednesday, 10 June 2009 00:00

OxCarre Research Papers No. 2010-55 "Growth and the Optimal Carbon Tax" (van der Ploeg & Withagen); 2010-44 "Resource Rents: When to spend and how to save" (Venables); 2009-32 "International Rules for Trade in Natural Resources" (Collier & Venables); No. 2009-21 "Aggressive Oil Extraction and Precautionary Saving: Coping with Volatility" (van der Ploeg), and 2009-15 "Managing Resource Revenues in Developing Economies" (Collier, van der Ploeg, Spence & Venables) are now available for downloading in the Research Papers section.

The Pungent Smell of "Red Herrings": subsoil assets, rents, volatility and the resource curse