Simple Model Frameworks for Explaining Inefficiency of the Clean Development Mechanism

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dc.creatorRosendahl, Knut Einar
dc.creatorStrand, Jon
dc.date2012-03-19T19:10:24Z
dc.date2012-03-19T19:10:24Z
dc.date2009-05-01
dc.date.accessioned2026-07-01T01:18:40Z
dc.descriptionThe Clean Development Mechanism (CDM) is an offset mechanism designed to reduce the overall cost of implementing a given global target for greenhouse gas (GHG) emissions in industrialized "Annex B" countries of the Kyoto Protocol. This paper discusses various ways in which CDM projects do not imply full offset of emissions, thus leading to an overall increase in global GHG emissions when considering the Annex-B emissions increase allowed by the offsets. The authors focus on two ways in which this may occur: baseline manipulation; and leakage. Baseline manipulation may result when agents that carry out CDM projects have incentives to increase their initial (or baseline) emissions in order to optimize the value of CDM credits. Leakage occurs because reductions in emissions under a CDM project may affect market equilibrium in local and/or global energy and product markets, and thereby increase emissions elsewhere. Remedies against these problems are discussed. Such remedies are more obvious for the baseline problem (where one is simply to choose an exogenous baseline independent of the project) than for the leakage problem (which is difficult to prevent, and where a prediction of the effect must rely on information about overall market equilibrium effects).
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090513161017
dc.identifierhttps://hdl.handle.net/10986/4125
dc.identifier10.1596/1813-9450-4931
dc.identifier.urihttp://hdl.handle.net/123456789/416938
dc.languageEnglish
dc.relationPolicy Research working paper ; no. WPS 4931
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGGREGATE DEMAND
dc.subjectAPPROACH
dc.subjectASYMMETRIC INFORMATION
dc.subjectAVAILABILITY
dc.subjectBASELINE EMISSIONS
dc.subjectCARBON
dc.subjectCARBON EMISSIONS
dc.subjectCARBON OFFSET
dc.subjectCARBON TAXES
dc.subjectCARBON UNITS
dc.subjectCLEAN DEVELOPMENT MECHANISM
dc.subjectCLIMATE CHANGE
dc.subjectCLIMATE POLICY
dc.subjectCOAL
dc.subjectCOAL PRICE
dc.subjectCOAL PRICES
dc.subjectCOAL SUPPLY
dc.subjectCOAL USE
dc.subjectCONSUMPTION OF COAL
dc.subjectCONSUMPTION OF FOSSIL
dc.subjectDEMAND ELASTICITIES
dc.subjectDEMAND ELASTICITY
dc.subjectECONOMICS
dc.subjectELASTICITIES
dc.subjectELECTRICITY
dc.subjectELECTRICITY CONSUMPTION
dc.subjectELECTRICITY PRODUCTION
dc.subjectELECTRICITY SECTOR
dc.subjectELECTRICITY SUPPLY
dc.subjectEMISSION
dc.subjectEMISSION CHANGES
dc.subjectEMISSION REDUCTION
dc.subjectEMISSION REDUCTIONS
dc.subjectEMISSIONS
dc.subjectEMISSIONS LEVELS
dc.subjectEMISSIONS OF METHANE
dc.subjectEMISSIONS REDUCTION
dc.subjectEMISSIONS REDUCTIONS
dc.subjectEMPIRICAL STUDIES
dc.subjectEND-USERS
dc.subjectENERGY CONSUMPTION
dc.subjectENERGY DEMAND
dc.subjectENERGY ECONOMICS
dc.subjectENERGY EFFICIENCY
dc.subjectENERGY EFFICIENCY IMPROVEMENTS
dc.subjectENERGY INPUT
dc.subjectENERGY INTENSIVE
dc.subjectENERGY MARKETS
dc.subjectENERGY OUTPUT
dc.subjectENERGY POLICY
dc.subjectENERGY PRICE
dc.subjectENERGY TECHNOLOGIES
dc.subjectENERGY TECHNOLOGY
dc.subjectENERGY USE
dc.subjectENVIRONMENTAL
dc.subjectENVIRONMENTAL POLICIES
dc.subjectENVIRONMENTAL POLICY
dc.subjectENVIRONMENTAL TAX
dc.subjectEQUILIBRIUM
dc.subjectEXCISE TAX
dc.subjectEXPLOITATION
dc.subjectEXTERNALITIES
dc.subjectFIXED COSTS
dc.subjectFORESTRY
dc.subjectFOSSIL
dc.subjectFOSSIL FUEL
dc.subjectFOSSIL FUELS
dc.subjectFUEL
dc.subjectFUEL DEMAND
dc.subjectFUEL MARKET
dc.subjectFUEL PRICE
dc.subjectFUEL SUPPLY
dc.subjectFUEL TAXES
dc.subjectGLOBAL EMISSIONS
dc.subjectGREENHOUSE
dc.subjectGREENHOUSE GAS
dc.subjectGREENHOUSE GAS EMISSIONS
dc.subjectGREENHOUSE GASES
dc.subjectHEALTH PROBLEMS
dc.subjectHYDRO PLANT
dc.subjectHYDROPOWER
dc.subjectHYDROPOWER PLANT
dc.subjectINCOME
dc.subjectJOINT IMPLEMENTATION
dc.subjectLEVEL OF EMISSIONS
dc.subjectMACROECONOMICS
dc.subjectNATURAL GAS
dc.subjectNEW PLANT
dc.subjectOIL
dc.subjectOPEC
dc.subjectPERMIT TRADING
dc.subjectPOLICY INSTRUMENTS
dc.subjectPOLLUTION
dc.subjectPOWER PRODUCERS
dc.subjectPRICE ELASTICITIES
dc.subjectPRICE VARIATIONS
dc.subjectPRODUCTION TECHNOLOGY
dc.subjectQUOTAS
dc.subjectREDUCTION IN EMISSIONS
dc.subjectRENEWABLE ELECTRICITY
dc.subjectRENEWABLE ENERGIES
dc.subjectRENEWABLE POWER
dc.subjectTAX REVENUE
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPORT
dc.subjectTRANSPORT COSTS
dc.subjectTRUE
dc.titleSimple Model Frameworks for Explaining Inefficiency of the Clean Development Mechanism

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