US carbon pricing at various levels, either along with or without carbon motivated BTAs policies on welfare, emissions …, trade flows and production. Results indicate only small impacts of these measures on global emissions, trade and welfare … simulation results which suggest that impacts on welfare, trade, and emissions will likely be small. This is because proposed …

distortions. We first note that the weak double-dividend, the proposition that the welfare improvement from a tax reform where … environmental taxes are used to lower distorting taxes must be greater than the welfare improvement from a reform where the …

climate policy in the presence of leakage. We ignore the welfare gain from reducing greenhouse gas emissions and focus on the … welfare cost of the emissions tax or permit scheme. Whereas that prior paper solves for changes in emissions quantities and … unilateral carbon tax results in a welfare loss. With positive leakage, however, a unilateral policy can improve welfare …

vary with emissions damages. Under perfect certainty, damage-based policy differentiation is unambiguously welfare … improving. In the presence of uncertainty about damages and abatement costs, differentiated policies need not welfare dominate … simpler, undifferentiated designs. Using rich data from a major U.S. emissions trading program, we estimate the welfare …

emissions reductions. Taken together, these forces result in social welfare losses under policy regimes that fully internalize … market power and emissions leakage can deliver welfare gains …