Incorporating carbon offsets in the design of cap-and-trade programs remains a controversial issue because of its potential unintended impacts on emissions. At the heart of this discussion is the issue of crediting of emissions reductions. Projects can be correctly, over- or under-credited for...

This paper presents an assessment of the relative efficacy of three key instruments; baselines, trade ratios, and limits; which are under policy discussion in the design of carbon offset programs. Efficiency and distributional considerations are both present in choosing between them. We analyze...

The emissions reductions from the adoption of a new transportation technology depend on the emissions from the new technology relative to those from the displaced technology. We evaluate the emissions reductions from electric vehicles (EVs) by identifying which vehicles would have been purchased...