The geneva hydrocarbon protocol: Economic insights from a belgian perspective

This paper extends the methodology for the economic analysis of tropospheric ozone regulation reported in Repetto (1987). Firstly, the acid rain objective is explicitly incorporated by assigning an additional benefit to the acidifying precursors of ozone. Secondly, we introduce the transboundary dimension which is of particular importance to Europe. The methodology is applied to the evaluation of the costs and benefits of the Geneva Protocol on hydrocarbons for Belgium.