Cramton, Peter; Stoft, Steven - 2014
establishing a global price for greenhouse gas emissions. This paper presents a solution to this dilemma - allow countries to … accepting a cap that is as low as U.S. emissions in the 1800s. And it would allow the U.S. and the E.U. to keep their cap and … world oil price. For China and the United States, this savings might well cover the full cost of the proposed initial …