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Updating the Allocation of Greenhouse Gas Emissions Permits in a Federal Cap-and-Trade Program
Fowlie, Meredith - 2010
U.S. adoption of a cap-and-trade program for greenhouse gases could place some domestic producers at a disadvantage relative to international competitors who do not face similar regulation. To address this issue, proposed federal climate change legislation includes a provision that would freely...
Persistent link: https://www.econbiz.de/10013138772
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Taxes, Permits, and Climate Change
Kaplow, Louis - 2010
This essay revisits the question of instrument choice for the regulation of externalities in the context of climate change. The central point is that the Pigouvian prescription to equate marginal control costs with the expected marginal benefits of damage reduction should guide the design of...
Persistent link: https://www.econbiz.de/10013139280
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The Design and Implementation of U.S. Climate Policy : An Introduction
Fullerton, Don - 2011
While economic models have already proven useful to analyze big picture questions about climate policy such as the choice between a carbon tax or cap-and-trade permit system, the 19 chapters in this book show how economic models also are useful to address the many remaining smaller questions...
Persistent link: https://www.econbiz.de/10013119609
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Using the Market to Address Climate Change : Insights from Theory and Experience
Aldy, Joseph E. - 2011
Emissions of greenhouse gases linked with global climate change are affected by diverse aspects of economic activity, including individual consumption, business investment, and government spending. An effective climate policy will have to modify the decision calculus for these activities in the...
Persistent link: https://www.econbiz.de/10013119775
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Market Design in Cap and Trade Programs : Permit Validity and Compliance Timing
Holland, Stephen P. - 2012
Cap and trade programs have considerable heterogeneity in permit validity and compliance timing. For example, permits have different validity across time (e.g., banking, borrowing, and seasons) and space (e.g., zonal restrictions), and compliance timing can be annual, in overlapping cycles, or...
Persistent link: https://www.econbiz.de/10013106300
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Post-Durban Climate Policy Architecture Based on Linkage of Cap-and-Trade Systems
Ranson, Matthew - 2014
The outcome of the December 2011 United Nations climate negotiations in Durban, South Africa, provides an important new opportunity to move toward an international climate policy architecture that is capable of delivering broad international participation and significant global CO2 emissions...
Persistent link: https://www.econbiz.de/10013065958
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The Effect of Allowing Pollution Offsets with Imperfect Enforcement
Sigman, Hilary - 2014
such difficulties in enforcement may lead regulators to restrict the use of offsets. In this paper, we demonstrate that … allowing offsets may increase pollution abatement and reduce illegal pollution, even if the government has a fixed enforcement … budget. We explore the circumstances that may make allowing pollution offsets an attractive option when enforcement is costly …
Persistent link: https://www.econbiz.de/10013068478
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Regulatory Choice with Pollution and Innovation
Kolstad, Charles D. - 2014
This paper develops a simple model of a polluting industry and an innovating firm. The polluting industry is faced with regulation and costly abatement. Regulation may be taxes or marketable permits. The innovating firm invests in R&D and develops technologies which reduce the cost of pollution...
Persistent link: https://www.econbiz.de/10013069351
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Regulation, Allocation, and Leakage in Cap-and-Trade Markets for CO2
Bushnell, James - 2014
The allocation of emissions allowances is among the most contentious elements of the design of cap-and-trade systems. In this paper we develop a detailed representation of the US western electricity market to assess the potential impacts of various allocation proposals. Several proposals involve...
Persistent link: https://www.econbiz.de/10013070602
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What Do Emissions Markets Deliver and to Whom? Evidence from Southern California's Nox Trading Program
Fowlie, Meredith - 2014
A perceived advantage of cap-and-trade programs over more prescriptive environmental regulation is that enhanced compliance flexibility and cost effectiveness can make more stringent emissions reductions politically feasible. However, increased compliance flexibility can also result in an...
Persistent link: https://www.econbiz.de/10013071084