The Concept and Theoretical Implications of Carbon Emissions Rights Based on Individual Equity

Climate change has become a hot topic in international environmental negotiations.For post-Kyoto international climate regime negotiations,many countries have proposed a variety of frameworks to share the emission reduction responsibilities and allocate carbon emission rights,and have tried to quantify the emission reduction obligations of all countries based on the perspectives of international equity and individual equity.In this paper,the authors have distinguished the concepts of carbon emissions rights based on these two perspectives respectively,have analyzed the relationship between carbon emissions per capita and economic development,and have calculated and compared the proportion of cumulative emissions per capita of different countries in history and future,and then authors conclude that emission reduction obligations should be allocated based on each country's conditions,including historical emissions,development stage,and future demands.Developed countries should take the initiative to significantly reduce their emissions because they have already accomplished their industrialization process.However,developing countries are still in the process of industrialization,which requires more emission rights to meet their development needs.For China,the concept of carbon emissions based on individual equity can be used as a theoretical tool for the allocating the international carbon emissions rights.

Oil Crisis, Market Reforms, and Human Welfare： An Econometric Analysis of the Australian Economy

As an active trader in international crude oil and petroleum product markets, Australia＇s human welfare is affected by oil crisis and contagion from the perspectives of economic growth, income inequality, and environmental sustainability. This paper investigates the impacts of oil price shocks upon Australia＇s gross domestic product （GDP） growth, Gini coefficients, and carbon dioxide emissions per capita from 1970 to 2012 with yearly frequency. Hypotheses concerning whether Australia＇s economic immunity against oil crisis is affected after the deregulation of oil market and whether endogenous oil price shocks account for more variations in human welfare than exogenous oil price shocks are tested. The methodologies include a theoretic model and a series of econometric tests. For the short-run dynamics, oil price is integrated into the model both linearly and non-linearly. Oil price shocks are categorized into exogenous and endogenous shocks. The conclusions are that inflated oil prices exert mainly non-linear negative impacts upon human welfare indicators and exogenous shocks induce endogenous shocks through labor price, Consumer Price Index （CPI）, interest rate, and exchange rate. For the long-run equilibrium, non-linear shocks＇ effects decay more slowly than linear shocks and the impacts of endogenous shocks last longer than that of exogenous shocks. Finally, oil market policies are evaluated and proposed.