Efforts to reduce greenhouse gas emissions in the US have relied on Corporate Average Fuel Economy (CAFE) Standards and Renewable Fuel Standards (RFS). Economists often argue that these policies are inefficient relative to carbon pricing because they ignore existing vehicles and do not...

The “public bad” that is carbon pollution must be taxed and otherwise regulated into discontinuation since other steps have not yet solved climate change and may not. This article demonstrates that with the right amount of voter support, which exists, carbon taxation can be implemented in a...

Major carbon-pricing systems in Europe and North America involve multiple countries or states. Individual jurisdictions often pursue additional initiatives---such as unilateral carbon price floors, legislation to phase out coal, aviation taxes or support programs for renewable energy---that...

Carbon taxes theoretically dominate the emission standard because of the shortcomings of tax revenue when imposing standards. To study the optimal regulation mode in society, this paper compares four potential regulations for carbon emission mitigation: an emission tax (an emission approach...

We evaluate the aggregate and distributional effects of climate change mitigation policies using a multi-sector equilibrium model with intersectoral input-output linkages and worker heterogeneity calibrated to different countries. The introduction of carbon taxes leads to changes in relative...

The economic effects of climate change vary across both time and space. To study these effects, this paper builds a global economy-climate model featuring a high degree of geographic resolution. Carbon emissions from the use of energy in production increase the Earth's (average) temperature and...

This paper develops an analytical model to quantify the costs and distributional effects of various fiscal options for allocating the (large) rents created under prospective cap-and-trade programs to reduce domestic, energy-related carbon dioxide (CO2) emissions. The trade-off between...