Climate Policy Foundations: Science and Economics with Lessons from Monetary Regulation - Softcover

Whitesell, William C.

Softcover

ISBN 10: 1107614724 ISBN 13: 9781107614727

Publisher: Cambridge University Press, 2012

Synopsis

This book provides a thorough grounding in the science and economics of climate policy issues and draws key lessons from the longer experiences of central banks in grappling with related challenges. Findings and controversies of climate history and the effects of human activities on climate are reviewed. The author describes similarities in risk management approaches for climate and monetary policy. Overall goals and frameworks for addressing climate change risks are assessed. Command-and-control and market-based options are compared (including performance standards, taxes, and cap-and-trade). Market-based approaches sometimes require a choice between prices and quantities as policy instruments. However, the author discusses how techniques of central bank interest rate management can be adapted in a hybrid climate policy approach to achieve environmental goals while making carbon prices predictable and also ensuring well-functioning carbon markets. Key lessons are offered for improving existing and future national and international climate policy architectures.

About this title

Book Description

This book discusses the efforts of scientists to understand earth's climate history and the effects that rising levels of greenhouse gases could have on the future of the planet's climate. It explains the economic consequences of a wide variety of climate policy options and draws important lessons from the experiences of central banks regarding similar policy challenges.

About the Author

William C. Whitesell is Director of Policy Research in Washington, DC. From 1987 to 2006 he served on the staff of the U.S. Federal Reserve Board, where he held management responsibilities for staff work on the formulation and implementation of monetary policy, including market analysis and the monetary regulation of banks. He conducted independent climate economics research from 2006 to 2007. Dr Whitesell has also held positions as a financial analyst at the World Bank and as a development finance specialist at the Banque Arabe et Internationale d'Investissement, in addition to proprietary consulting. Earlier he taught economics at New York University and Virginia Tech. He holds an MBA from the Wharton School at the University of Pennsylvania and a Ph.D. in economics from New York University.

Edition details

• Publisher: Cambridge University Press
• Publication date: 2012
• Language: English
• ISBN 10: 1107614724
• ISBN 13: 9781107614727
• Binding: Paperback
• Number of pages: 256