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The Economics of Carbon Offsets

In: The Design and Implementation of U.S. Climate Policy

Author

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  • James B. Bushnell

Abstract

Although international programs for carbon offsets play an important role in current and prospective climate-change policy, they continue to be very controversial. Asymmetric information creates several incentive problems, include adverse selection and moral hazard, in offset markets. The current regulatory focus on additionality tends to paint all these problems with a broad brush without proper consideration of the context or their implications.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • James B. Bushnell, 2011. "The Economics of Carbon Offsets," NBER Chapters,in: The Design and Implementation of U.S. Climate Policy, pages 197-209 National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberch:12156
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    File URL: http://www.nber.org/chapters/c12156.pdf
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    Cited by:

    1. Hilary Sigman, 2011. "Monitoring and Enforcement of Climate Policy," NBER Chapters,in: The Design and Implementation of U.S. Climate Policy, pages 213-225 National Bureau of Economic Research, Inc.
    2. He, Gang & Morse, Richard, 2013. "Addressing carbon Offsetters’ Paradox: Lessons from Chinese wind CDM," Energy Policy, Elsevier, vol. 63(C), pages 1051-1055.
    3. Hilary Sigman & Howard F. Chang, 2011. "The Effect of Allowing Pollution Offsets with Imperfect Enforcement," American Economic Review, American Economic Association, vol. 101(3), pages 268-272, May.
    4. Yallwe, Hagos Alem & Buscemi, Antonino, 2011. "It is time to re-think on environment, energy and economics (E3)," MPRA Paper 32216, University Library of Munich, Germany.
    5. van Benthem, Arthur & Kerr, Suzi, 2013. "Scale and transfers in international emissions offset programs," Journal of Public Economics, Elsevier, vol. 107(C), pages 31-46.
    6. Jimena González-Ramírez & Catherine L. Kling & Adriana Valcu, 2012. "An Overview of Carbon Offsets from Agriculture," Annual Review of Resource Economics, Annual Reviews, vol. 4(1), pages 145-160, August.
    7. Heather Klemick, 2012. "What is the Optimal Offsets Discount under a Second-Best Cap & Trade Policy?," NCEE Working Paper Series 201204, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Jul 2012.

    More about this item

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L5 - Industrial Organization - - Regulation and Industrial Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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