@article{Michaelowa:26345,
      recid = {26345},
      author = {Michaelowa, Axel and Stronzik, Marcus},
      title = {Early Crediting of Emissions Reduction - A Panacea or  Pandora's Box?},
      address = {1999},
      number = {879-2016-64328},
      series = {HWWA Discussion Paper 73},
      pages = {18},
      year = {1999},
      abstract = {The Kyoto Protocol sets legally binding emission targets  for industrialized countries without accounting for  reductions carried out prior to 2008, the beginning of the  first commitment period. There exists only one exception,  the project-based Clean Development Mechanism. Two other  possible ways to allow crediting for early reductions are  discussed in this paper, a domestic scheme and early Joint  Implementation. The implications of these concepts are  analyzed on a macro as well as on a micro level taking the  domestic and international commitments into account. They  can lead to a strong redistribution and are prone to free  riding. We conclude that early crediting makes  built on  clear baselines, sets incentives for innovation and  provides for institutional learning. The current bill  discussed in the U.S. does not meet these criteria.},
      url = {http://ageconsearch.umn.edu/record/26345},
      doi = {https://doi.org/10.22004/ag.econ.26345},
}