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...The economics of climate policy charles d kolstad and michael toman june discussion paper rev resources for future p street nw washington c telephone fax internet http www rff org all rights reserved no portion this may be reproduced without permission authors papers are research materials circulated by their purposes information they have not necessarily undergone formal peer review or editorial treatment abstract has played an increasingly important role in shaping united states elsewhere reviews some dimensions economic approach to analyzing understanding developing solutions problem change we then turn issue designing regulatory instruments control concludes with a political economy greenhouse gas international context key words design integrated assessment environmental coordination jel classification numbers q ii contents i introduction overview nature challenge b potential physical socioeconomic consequences mitigation adaptation emissions sequestration geoengineering toward iii...