题目：Global Green Deal: International Cooperation on Net-Zero Carbon Emission
主讲人：Bei Yang 美国伊利诺伊大学厄巴纳-香槟分校经济系
We develop and estimate an integrated model of climate and the world economy to study international cooperation on net-zero carbon emission among sixteen geographic regions. We find that achieving net-zero emission by mid-century reduces global social welfare loss by up to 35%, accounting for the emission reduction cost. However, we show that the economic benefit of free-riding may entice each region to quit the cooperation at the early stage. We demonstrate that trigger strategies are not effective in stabilizing the cooperation and would quickly lead the world to the punishment phase. We also demonstrate that monetary transfers can improve the cooperation outcome but are not able to support net-zero emission. These results suggest that global effort on achieving net-zero carbon emission by mid-century is desirable, but the required international cooperation may be difficult to sustain.
Bei Yang is a Ph.D. candidate in economics from the University of Illinois at Urbana-Champaign. His research focuses on game theory with application to climate change, and mechanism design.