Carbon markets are substantial and they are expanding. There are many lessons from experiences over the past eight years -- fewer free allowances, better management of market-sensitive information, and a recognition that trading systems require adjustments that have consequences for market...

On efficiency grounds, the economics community has to date tended to emphasize price-based policies to address climate change -- such as taxes or a “safety-valve” price ceiling for cap-and-trade -— while environmental advocates have sought a more clear quantitative limit on emissions. This...

In 2005, the European Union introduced the largest and most ambitious emissions trading program in the world to meet its Kyoto commitments for the containment of global climate change. The EU Emissions Trading Scheme (EU ETS) has some distinctive features that differentiate it from the more...

"Global climate change poses great risks to poor people whose livelihoods depend directly on the use of natural resources. Mitigation of the adverse effects of climate change is a high priority on the international agenda. Carbon trading, under the Kyoto Protocol as well as outside the protocol,...

"This paper investigates the impact of climate variability on maize yield in the Limpopo Basin of South Africa using the Generalized Maximum Entropy (GME) estimator and Maximum Entropy Leuven Estimator (MELE). Precipitation and temperature were used as proxies for climate variability, which were...

Momentum may be building for federal climate change policy in the United States. Assuming this leads to mandatory greenhouse gas regulations, the door will be open for the United States to constructively re-engage other countries concerning an international climate regime. Such a regime will...

Seminal work by Weitzman (1974) revealed that prices are preferred to quantities when marginal benefits are relatively flat compared to marginal costs. We extend this comparison to indexed policies, where quantities are proportional to an index, such as output. We find that policy preferences...

Technologies to reduce significantly fossil-fuel emissions currently are unavailable or only available at high cost. In light of this, the amount of research on the pace, direction, and benefits of environmentally friendly technological change has grown dramatically in recent years. This...

Welfare comparisons of regulatory instruments under uncertainty, even in dynamic analyses, have typically focused on price versus quantity controls despite the presence of banking and borrowing provisions in existing emissions trading programs. This is true even in the presence of banking and...

Improving soil carbon through conservation agriculture in developing countries may generate some private benefits to farmers, as well as sequester carbon emissions, which is a positive externality to society. Leaving crop residue on the farm has become an important option in conservation...