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How Is the US Pricing Carbon? How Could We Price Carbon?

Author

Listed:
  • Joseph E. Aldy
  • Dallas Burtraw
  • Carolyn Fischer
  • Meredith Fowlie
  • Roberton C. Williams III
  • Maureen L. Cropper

Abstract

Economists have for decades recommended that carbon dioxide and other greenhouse gases be taxed—or otherwise priced—to provide incentives for their reduction. The United States does not have a federal carbon tax; however, many state and federal programs to reduce carbon emissions effectively price carbon—for example, through cap-and-trade systems or regulations. There are also programs that subsidize reductions in carbon emissions. At the 2022 meetings of the American Economic Association, the Society for Benefit-Cost Analysis brought together five well-known economists—Joe Aldy, Dallas Burtraw, Carolyn Fischer, Meredith Fowlie, and Rob Williams—to discuss how the United States does, in fact, price carbon and how it could price carbon. Maureen Cropper chaired the panel. This paper summarizes their remarks.

Suggested Citation

  • Joseph E. Aldy & Dallas Burtraw & Carolyn Fischer & Meredith Fowlie & Roberton C. Williams III & Maureen L. Cropper, 2022. "How Is the US Pricing Carbon? How Could We Price Carbon?," NBER Working Papers 30545, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:30545
    Note: EEE
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    Cited by:

    1. Blasberg, Alexander & Kiesel, Rüdiger & Taschini, Luca, 2024. "Carbon default swap – disentangling the exposure to carbon risk through CDS," LSE Research Online Documents on Economics 128528, London School of Economics and Political Science, LSE Library.
    2. Brown, Maxwell & Awara, Sarah & Ntiamoah, Jennifer & Yuan, Mei, 2025. "Distributional impacts of technology pathways for US power sector transformation," Applied Energy, Elsevier, vol. 388(C).

    More about this item

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • 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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