Cameron Hepburn

This article examines the impact of climate policy-induced changes in consumers’ preferences. Read more

This paper discusses major action areas for China's 14th Five-Year Plan after COVID-19, especially focusing on three aspects: the energy transition, a new type of sustainable urban development, and investment priorities. Read more

This paper (forthcoming in the Oxford Review of Economic Policy) assesses the economic and climate impact of taking a green route out of the COVID-19 crisis. The analysis is based on a survey 231 central bank officials, finance ministry officials, and other economic experts from G20 countries on the relative performance of 25 major fiscal recovery archetypes across four dimensions: speed of implementation, economic multiplier, climate impact potential, and overall desirability. Read more

Multilateral development institutions often use performance-based allocation (PBA), mathematical formulas based on a list of performance criteria, to inform the allocation of development assistance or environmental funding. The way the formulas are designed can have material and often unintended consequences on the allocation of funds; this paper highlights a particular problem called the ‘cardinal fallacy’. Read more

The authors of this comment respond to a recent argument put forward by Lemoine and Rudik (2017), that it is efficient to delay reducing carbon emissions because there is substantial inertia in the climate system. Mattauch et al. show that there is no such inertia, which means there is no lag between carbon emissions and warming. Read more

This paper explores the relationship between carbon prices and policies that change consumers’ preferences, concluding that taking the effects into account in economic models would enhance understanding of climate change mitigation policy, facilitating the transition to a low-carbon economy. Read more

Cameron Hepburn, Karsten Neuhoff, William Acworth, Dallas Burtraw, Frank Jotzo. Journal of Environmental Economics and Management, Volume 80, November 2016,... Read more

‘Green growth’ is almost tautologically required for global welfare to rise in the long run. Economic growth is desirable, not... Read more

Abstract Conventional benefit–cost analysis incorporates the normally reasonable assumption that the policy or project under examination is marginal. Among the... Read more

Abstract Reducing greenhouse gas emissions is now an urgent priority. Systems control theory, and in particular feedback control, can be... Read more

Reference Meckling, J., and Hepburn, C. 2013. Economic instruments for climate change. In: The Handbook of Global Climate and Environment Policy (Falkner, R.... Read more

Bowen, Alex and Hepburn, Cameron. 2013. Chapter in Handbook On Energy And Climate Change Read more

Summary This chapter describes and illustrates the issues surrounding wildlife trade policies. Wildlife trades are complex and heterogeneous, requiring different... Read more

Abstract This paper examines the impact of an emissions trading scheme (ETS) on equilibrium emissions, output, price, market concentration, and... Read more

Abstract Many models of economic growth exclude materials, energy and other intermediate inputs from the production function. Growing environmental pressures... Read more

Working Paper 95 Abstract Many models of economic growth exclude materials, energy and other intermediate inputs from the production function.... Read more

Working Paper 93 Abstract Debate about the relationship between environmental limits and economic growth has been taking place for several... Read more

Working Paper 80 Abstract The lack of real progress at the Durban climate change conference in 2011—postponing effective action until... Read more

Abstract Farming of animals and plants has recently been considered not merely as a more efficient and plentiful supply of... Read more

Working Paper 49 Abstract Cap-and-trade systems for greenhouse gas emissions are an important part of the climate change policies of... Read more

Working Paper 46 Abstract Schelling (1995) stressed the importance of correctly disaggregating the impacts of climate change to understand how... Read more

Abstract Cap-and-trade systems for greenhouse gas emissions are an important part of the climate change policies of the EU, Japan,... Read more

Abstract This article suggests that some or all G-20 Emerging Markets (GEMs = Argentina, Brazil, China, India, Indonesia, Korea, Mexico,... Read more

Abstract This chapter examines the issue of whether low-carbon growth might be in the self-interest of key Asian countries.  Individually,... Read more

Working Paper 38 Abstract Putting a price on carbon is critical for climate change policy. Increasingly, policy makers combine multiple... Read more

Abstract Optimal control theory has been extensively used to determine the optimal harvesting policy for renewable resources such as fish... Read more

Abstract In October 2010, a group of leading thinkers on environmental policy met at the Sustainable Consumption Institute at the... Read more

Abstract Putting a price on carbon is critical for climate change policy. Increasingly, policymakers combine multiple policy tools to achieve... Read more

Abstract This paper analyses the design of carbon markets in time (i.e., intertemporally). It is part of a twin set... Read more

Designing carbon markets Read more

Abstract Environmental policy is made in a context of both market failure and government failure. On the one hand, leaving... Read more

Abstract This paper reviews some recent research in “behavioural economics” with an application to environmental issues. Empirical results from behavioural... Read more

Abstract (1287) Cameron Hepburn and Benito Müller Greenhouse gas emissions from international aviation services have been increasing rapidly and are... Read more

Working Paper 18 Abstract Conventional cost-benefit analysis incorporates the normally reasonable assumption that the policy or project under examination is... Read more

Abstract Climate change is increasingly seen to raise difficult normative issues. To date, cumulative emissions have been disproportionately from the... Read more

Working Paper 3 Abstract We analyse the design of carbon markets in time (intertemporally) and space (geographically) from first principles,... Read more

Abstract Arguments about the appropriate discount rate often start by assuming a Utilitarian social welfare function with isoelastic utility, in... Read more

Abstract Climate change will give rise to different impacts in different countries, and different countries have different levels of development.... Read more

Abstract There may never have been an instance of environmental pollution to challenge our powers of analysis and evaluation quite... Read more

Abstract A global target of stabilizing greenhouse-gas concentrations at between 450 and 550 parts per million carbon-dioxide equivalent (ppm CO2e)... Read more

This report rethinks basic issues in economics in describing a new development strategy for China, focusing on theories of value, the definition and measurement of wellbeing and wealth, and analytical frameworks for individual and collective behaviour. It sets out guiding principles and actions to reshape key sectors. Read more

This paper focuses on three action areas for China's 14th Five-Year Plan: the energy transition, a new type of sustainable urban development and investment priorities. Read more

This working paper published by Oxford Smith School of Enterprise and the Environment outlines how the transition to net zero emissions could significantly contribute to the UK’s recovery from COVID-19. Read more

This briefing identifies key recovery policies that the UK government could introduce to both respond to the crisis of COVID-19, and support the country in meeting its commitment to reaching net-zero emissions by 2050. Read more

The first of two papers that offer an outline of strategies and policies for an innovative, sustainable and low-carbon approach to China’s development, this paper offers an approach that could spell out a new development strategy for the country as the 21st century progresses, to inform decision-making for China’s 14th Five-Year Plan. Read more

Shifting our fossil-fuelled civilisation to clean modes of production and consumption requires deep transformations in our energy and economic systems Read more

Cameron Hepburn, Sarah Chapman, Baran Doda, Chris Duffy, Samuel Fankhauser, James Rydge, Kathryn Smith, Luca Taschini and Alessandro Vitelli Read more

Only 10 per cent of the world’s biggest energy suppliers have made a dated commitment to reduce greenhouse gas emissions to net-zero. Read more

This column discusses how the Market Stability Reserve should be designed and whether it could improve the emissions trading. Read more

New study from Grantham Institute says costs of tackling climate change will spiral unless concerted action is taken urgently Read more

Financial Times – Subscription required Read more

When the carbon price collapsed to below €3 in April this year, EU policymakers sought to prop up carbon prices... Read more

Just as scientists almost universally agree greenhouse gases contribute to the planet’€™s changing climate, economists almost universally agree the problem... Read more

The inclusion of aviation in the EU Emissions Trading System since 1 January 2012 has faced strong opposition from other... Read more

BBC Radio Read more

While the political noise around the carbon laws continues, we risk losing sight of the fact that a minimum carbon... Read more

Australia’s Government has put forward a carbon pricing package which is, in some respects, as significant as the European Union’s Emissions Trading... Read more