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Climate change policy :gaps in economic analysis

Climate change policy :gaps in economic analysis. Adrian Macey, Institute of Policy Studies, VUW, March 2012. Current policy needs. Target – NZ carbon budget 2013-2020? NB framed more as “what pace should NZ transform its economy” and less as “what is our fair share” Market mechanisms

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Climate change policy :gaps in economic analysis

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  1. Climate change policy :gaps in economic analysis Adrian Macey, Institute of Policy Studies, VUW, March 2012

  2. Current policy needs • Target – NZ carbon budget 2013-2020? • NB framed more as “what pace should NZ transform its economy” and less as “what is our fair share” • Market mechanisms • ETS linking • New mechanisms • Carbon leakage and competitiveness. • Global food production

  3. How economics can contribute • Cost of NZ targets • On whole of economy • By sector • Include dynamic effects • Include counterfactuals • Competitiveness and carbon leakage effects on NZ- all sectors –under different scenarios • Agriculture • Metrics (under way) • Basket of gases? Separate treatment for methane? • Global food production and consumption modelling – economics of food production in NZ • Mitigation potential

  4. How economics can contribute(2) • Carbon markets • Effects of limiting supply (restrictions on carry-over, on CDM etc, or on percentage of obligations that can be met through the market) • Optimum carbon price • Design of new market mechanisms • A Stern review for New Zealand?

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