The economic implications for Australia of replacing its carbon tax policy with an Emissions Reduction Fund (ERF) scheme are examined. A computable general equilibrium model is used to show that the budget allocated for the ERF is about 50 per cent of that required to meet Australia's greenhouse...

One approach to rationalising policies for addressing potentially catastrophic climate change when such policies may prove unnecessary is to suppose the policies provide a form of social insurance even in the presence of pure uncertainty. Then, provided the policies are effective, such insurance...

An analysis of prospects for deriving self-enforcing, global, greenhouse gas emission mitigation agreements is provided. Policy spillovers and carbon leakages are accounted for. Situations where mitigation effort should be concentrated in particular countries and where efficient outcomes can be...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>The implications of risk, investment irreversibility and learning for infrastructure project assessment are considered, using investment in desalination as a case study. Both qualitative insights from ‘real options’ approaches and arguments based on...</p>