Addressing climate change with a comprehensive US cap-and-trade system
There is growing impetus for a domestic U.S. climate policy that can provide meaningful reductions in emissions of CO2 and other greenhouse gases. I describe and analyze an up-stream, economy-wide CO2 cap-and-trade system which implements a gradual trajectory of emissions reductions (with inclusion over time of non-CO2 greenhouse gases), and includes mechanisms to reduce cost uncertainty. Initially, half of the allowances are allocated through auction and half through free distribution, with the share being auctioned gradually increasing to 100 percent over 25 years. The system provides for linkage with emission reduction credit projects in other countries, harmonization over time with effective cap-and-trade systems in other countries and regions, and appropriate linkage with actions taken in other countries, in order to establish a level playing field among domestically produced and imported products.
(This abstract was borrowed from another version of this item.)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Carlson, Curtis & Burtraw, Dallas & Cropper, Maureen & Palmer, Karen L., 1998.
"Sulfur dioxide control by electric utilities : what are the gains from trade?,"
Policy Research Working Paper Series
1966, The World Bank.
- Curtis Carlson & Dallas Burtraw & Maureen Cropper & Karen L. Palmer, 2000. "Sulfur Dioxide Control by Electric Utilities: What Are the Gains from Trade?," Journal of Political Economy, University of Chicago Press, vol. 108(6), pages 1292-1326, December.
- Burtraw, Dallas & Palmer, Karen & Cropper, Maureen & Carlson, Curtis, 1998. "Sulfur-Dioxide Control By Electric Utilities: What Are the Gains from Trade?," Discussion Papers dp-98-44-rev, Resources For the Future.
- Ellerman,A. Denny & Joskow,Paul L. & Schmalensee,Richard & Montero,Juan-Pablo & Bailey,Elizabeth M., 2005.
"Markets for Clean Air,"
Cambridge University Press, number 9780521023894, November.
- Robert N. Stavins, 1999. "The Costs of Carbon Sequestration: A Revealed-Preference Approach," American Economic Review, American Economic Association, vol. 89(4), pages 994-1009, September.
- Lubowski, Ruben & Plantinga, Andrew & Stavins, Robert, 2005.
"Land-Use Change and Carbon Sinks: Econometric Estimation of the Carbon Sequestration Supply Function,"
Working Paper Series
rwp05-001, Harvard University, John F. Kennedy School of Government.
- Lubowski, Ruben N. & Plantinga, Andrew J. & Stavins, Robert N., 2006. "Land-use change and carbon sinks: Econometric estimation of the carbon sequestration supply function," Journal of Environmental Economics and Management, Elsevier, vol. 51(2), pages 135-152, March.
- Stavins, Robert & Jaffe, Adam & Newell, Richard, 2004.
"A Tale of Two Market Failures: Technology and Environmental Policy,"
dp-04-38, Resources For the Future.
- Jaffe, Adam B. & Newell, Richard G. & Stavins, Robert N., 2005. "A tale of two market failures: Technology and environmental policy," Ecological Economics, Elsevier, vol. 54(2-3), pages 164-174, August.
- Stavins, Robert, 2005.
"Vintage-Differentiated Environmental Regulation,"
Working Paper Series
rwp05-065, Harvard University, John F. Kennedy School of Government.
- Burtraw, Dallas & Krupnick, Alan & Austin, David & Farrell, Deirdre & Mansur, Erin, 1997. "The Costs and Benefits of Reducing Acid Rain," Discussion Papers dp-97-31-rev, Resources For the Future.
- Farrell, Alex & Carter, Robert & Raufer, Roger, 1999. "The NOx Budget: market-based control of tropospheric ozone in the northeastern United States," Resource and Energy Economics, Elsevier, vol. 21(2), pages 103-124, May.
- Suzi Kerr & Richard G. Newell, 2003.
"Policy-Induced Technology Adoption: Evidence from the U.S. Lead Phasedown,"
Journal of Industrial Economics,
Wiley Blackwell, vol. 51(3), pages 317-343, 09.
- Kerr, Suzi & Newell, Richard, 2001. "Policy-Induced Technology Adoption: Evidence from the U.S. Lead Phasedown," Discussion Papers dp-01-14, Resources For the Future.
- Kenneth Gillingham & Richard G. Newell & Karen Palmer, 2009.
"Energy Efficiency Economics and Policy,"
Annual Review of Resource Economics,
Annual Reviews, vol. 1(1), pages 597-620, 09.
- Gillingham, Kenneth & Newell, Richard G. & Palmer, Karen, 2009. "Energy Efficiency Economics and Policy," Discussion Papers dp-09-13, Resources For the Future.
- Kenneth Gillingham & Richard G. Newell & Karen Palmer, 2009. "Energy Efficiency Economics and Policy," NBER Working Papers 15031, National Bureau of Economic Research, Inc.
- Stavins, Robert, 2007. "A U.S. Cap-and-Trade System to Address Global Climate Change," Working Paper Series rwp07-052, Harvard University, John F. Kennedy School of Government.
- Newell, Richard G & Stavins, Robert N, 2003.
"Cost Heterogeneity and the Potential Savings from Market-Based Policies,"
Journal of Regulatory Economics,
Springer, vol. 23(1), pages 43-59, January.
- Stavins, Robert & Newell, Richard, 2000. "Cost Heterogeneity and the Potential Savings from Market-Based Policies," Discussion Papers dp-00-10-rev, Resources For the Future.
- Pizer, William, 2005. "Climate Policy Design Under Uncertainty," Discussion Papers dp-05-44, Resources For the Future.
When requesting a correction, please mention this item's handle: RePEc:oup:oxford:v:24:y:2008:i:2:p:298-321. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.