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Lessons Learned from Three Decades of Experience with Cap-and-Trade

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  • Schmalensee, Richard

    (MIT)

  • Stavins, Robert

    (Harvard University)

Abstract

This essay provides an overview of the major emissions trading programs of the past thirty years on which significant documentation exists, and draws a number of important lessons for future applications of this environmental policy instrument. References to a larger number of other emissions trading programs that have been implemented or proposed are included.

Suggested Citation

  • Schmalensee, Richard & Stavins, Robert, 2015. "Lessons Learned from Three Decades of Experience with Cap-and-Trade," Working Paper Series 15-069, Harvard University, John F. Kennedy School of Government.
  • Handle: RePEc:ecl:harjfk:15-069
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    References listed on IDEAS

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    Cited by:

    1. Sven Rudolph & Takeshi Kawakatsu & Toru Morotomi, 2016. "Fur eine foderale marktbasierte Klimapolitik:Lehren aus dem regionalen Emissionshandel in Nordamerika (Towards a market-based climate policy from the bottom up: Lessons from regional carbon markets in," Discussion papers d-16-001, Graduate School of Economics , Kyoto University.
    2. William Brock & Anastasios Xepapadeas, 2016. "Climate Change Policy under Spatial Heat Transport and Polar Amplification," DEOS Working Papers 1604, Athens University of Economics and Business.
    3. Alan I. Barreca & Matthew Neidell & Nicholas J. Sanders, 2017. "Long-Run Pollution Exposure and Adult Mortality: Evidence from the Acid Rain Program," NBER Working Papers 23524, National Bureau of Economic Research, Inc.
    4. Michael A. Mehling & Gilbert E. Metcalf & Robert N. Stavins, 2017. "Linking Heterogeneous Climate Policies (Consistent with the Paris Agreement)," Working Papers 2017.51, Fondazione Eni Enrico Mattei.
    5. repec:eee:enepol:v:110:y:2017:i:c:p:9-19 is not listed on IDEAS
    6. Xiong, Ling & Shen, Bo & Qi, Shaozhou & Price, Lynn & Ye, Bin, 2017. "The allowance mechanism of China’s carbon trading pilots: A comparative analysis with schemes in EU and California," Applied Energy, Elsevier, vol. 185(P2), pages 1849-1859.
    7. repec:eee:ecmode:v:69:y:2018:i:c:p:114-126 is not listed on IDEAS

    More about this item

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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