The Montreal Protocol is an international agreement to reduce consumption of substances that deplete the ozone layer. This paper provides a quantitative assessment of the costs and benefits for Canada of the Protocol. Benefits are estimated through the use of a health effects impact model. Costs are assessed in an adjustment cost model that is triggered by increases in the prices of the controlled chemicals. The environmental policy aspects of the Protocol are noteworthy. The market-oriented approach to reducing consumption of ozone-depleting substances increases the likelihood that reductions will be undertaken where control costs are lowest. -from Authors

Canadian Public Policy/Analyse de Politiques
Department of Economics

Smith, D, & Vodden, K. (1989). Global environmental policy: the case of ozone depletion. Canadian Public Policy/Analyse de Politiques, 15(4), 413–423.