GOULDER, LAWRENCE H.; SCHEIN, ANDREW R. - In: Climate Change Economics (CCE) 04 (2013) 03, pp. 1350010-1
We examine the relative attractions of a carbon tax, a "pure" cap-and-trade system, and a "hybrid" option (a cap-and-trade system with a price ceiling and/or price floor). We show that the various options are equivalent along more dimensions than often are recognized. In addition, we bring out...