On the climate change effects of high oil prices
Some commentators claim that the oil market has achieved within a few months what international bureaucrats have struggled to obtain in a decade of international climate negotiations. The fallacy of the oil price argument is that substitutions and income effects that would result from higher oil prices are not considered. Using a computable general equilibrium model, we show that high oil prices cannot serve as substitutes for effective climate policies.
- URL: http://www.sciencedirect.com/science?_ob=PublicationURL&_tockey=%23TOC%235713%232007%23999649997%23639366%23FLA%23&_cdi=5713&_pubType=J&_auth=y&_acct=C000013218&_version=1&_urlVersion=0&_userid=164550&md5=c7548cd30486750ebc294994401e58e1
Record created on 2008-02-08, modified on 2016-08-08