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Jeffrey Frankel

Jeffrey Frankel

James W. Harpel Professor of Capital Formation and Growth

Contact:
Telephone: (617)-496-3834
Fax: (617)-495-8963
Email: jeffrey_frankel@harvard.edu
Website: http://belferfrankel.wordpress.com/

 

 

By Publication Type

 

September 21, 2004

Designing a Regime for Developing Countries that is Cost-Effective and Equitable

Conference Paper

By Joseph E. Aldy, Faculty Affiliate, Harvard Project on Climate Agreements and Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

Paper presented at the Leaders' Summit on Post-Kyoto Architecture: Toward an L20? Conference, Council on Foreign Relations, New York, NY, September 21, 2004

 

September 2011

"Sustainable Cooperation in Global Climate Policy: Specific Formulas and Emission Targets to Build on Copenhagen and Cancun"

Discussion Paper

By Valentina Bosetti and Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

In pursuit of a workable successor to the Kyoto Protocol, this study offers a framework of formulas that produces precise numerical targets for emissions of carbon dioxide (CO2) and other greenhouse gases, in all regions of the world in all decades of this century....Firms, consumers, and researchers base their current decisions to invest in plant and equipment, consumer durables, or new technological possibilities on the expected future price of carbon: If government commitments are not credible from the start, then they will not raise the expected future carbon price.

 

 

September 2009

"Global Climate Policy Architecture and Political Feasibility: Specific Formulas and Emission Targets to Attain 460 PPM CO2 Concentrations"

Discussion Paper

By Valentina Bosetti and Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

This paper offers a framework of formulas that produce precise numerical targets for emissions of carbon dioxide (CO2) in all regions of the world in all decades of this century. The formulas are based on pragmatic judgments about what is possible politically. The reason for this approach is the authors' belief that many of the usual science-based, ethics-based, and economics-based paths are not politically viable. It is not credible that successor governments will be able to abide by the commitments that today’s leaders make, if those commitments would be costly.

 

 

April 2009

"Global Environment and Trade Policy"

Discussion Paper

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

Global environmental goals and trade goals can be reconciled.   Globalization and multilateral institutions can facilitate environmental protection rather than obstruct it, if they are harnessed in the right way.  Perhaps most urgent is that negotiators working on a sequel to the Kyoto Protocol agree on guidelines to govern precisely how individual countries can and cannot use trade measures in pursuit of carbon mitigation.

 

 

October 2008

"Global Environmental Policy and Global Trade Policy"

Discussion Paper

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

"The global climate regime and the global trade policy regime are on a collision course. National efforts to reduce emissions of greenhouse gases (GHGs) instill among environmentalists fears of leakage and among businesspeople fears of lost competitiveness. Policy-makers respond to these fears. In 2008, legislative attempts in both Washington, DC, and Brussels to enact long-term targets for reduced emission of GHGs included provisions for possible penalties against imports from countries perceived as non-participating. Trade measures, if well designed, could in theory be WTO-compatible...."

 

 

October 2008

"An Elaborated Proposal for Global Climate Policy Architecture: Specific Formulas and Emission Targets for All Countries in All Decades"

Discussion Paper

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

This paper offers a detailed plan to set quantitative national limits on emissions of greenhouse gases, building on the foundation of the Kyoto Protocol. It attempts to fill in the most serious gaps: the absence of targets extending as far as 2100, the absence of participation by the United States and developing countries, and the absence of reason to think that countries will abide by commitments. The plan elaborates on the idea of a framework of formulas that can assign quantitative limits across countries, one budget period at a time. Unlike other proposals for century-long paths of emission targets that are based purely on science (concentration goals) or economics (cost-benefit optimization), this plan is based partly on politics.

 

AP Photo

Spring 2010

"Scholars' Views Vary on Copenhagen Successes"

Newsletter Article, Belfer Center Newsletter

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth, Kelly Sims Gallagher, Senior Associate, Energy Technology Innovation Policy research group and Robert N. Stavins, Albert Pratt Professor of Business and Government; Member of the Board; Director, Harvard Project on Climate Agreements

"Belfer Center participants in the 2009 United Nations Framework Convention on Climate Change Conference in Copenhagen (UNFCCC) agreed that while the summit did not produce the treaty most wanted, it did make some significant progress. They disagree, however, on how much. Professors Jeffrey FrankelKelly Sims Gallagher, and Robert Stavins, all members of the Belfer Center Board of Directors, offer their takeaways from the event."

 

 

Belfer Center Photo

Summer 2009

"A Proposed Global Climate Policy Architecture"

Newsletter Article, Belfer Center Newsletter

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

A Conference of Parties to the UN Framework Convention on Climate Change will meet in Copenhagen in December to try to decide a successor regime to the Kyoto Protocol.  This study offers a proposal that builds on the foundations of Kyoto, in that it accepts the framework of national targets for emissions and tradable permits. But it attempts to solve the most serious deficiencies of that agreement: the need for long-term targets, the absence of participation by the United States and developing countries, and the incentive for countries to fail to abide by their commitments. Although there are many ideas to succeed the Kyoto Protocol, the existing proposals are typically based on just one or two out of the following three factors: science (e.g., capping global concentrations at 450 ppm) or equity (equal emissions per capita across countries) or economics (weighing the economic costs of aggressive short-term cuts against the long-term environmental benefits). The plan for emissions reductions proposed in this paper is more practical because it is based heavily on politics, in addition to those three considerations.

 

February 27, 2014

"Market Mechanisms for Regulation: Cap-and-trade and Obamacare"

Op-Ed, Vox

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

Market-based mechanisms such as cap-and-trade can tackle externality problems more efficiently than command-and-control regulations. However, the United States and, to a lesser degree, Europe have retreated from cap-and-trade in recent years. This column explores parallels between market-based environmental regulation and market-based health-insurance reform. The author argues that in practice, the alternative to market-based regulation is not an absence of regulation, but rather the return of inefficient mandates and subsidies.

 

 

March 13, 2013

"The Economist's Stone"

Op-Ed, Project Syndicate

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

This year marks the 100th anniversaries of two distinct institutional innovations in American economic policy: the introduction of the federal income tax and the establishment of the Federal Reserve. "They are worth commemorating," writes Jeffrey Frankel, "if only because we are at risk of forgetting what we have learned since then."

 

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