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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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    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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