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| Stavins, Robert N.. |
| This article, prepared for the forthcoming second edition of the New Palgrave Dictionary of Economics, provides an overview of the economics of environmental policy. Included are the setting of goals and targets, notably the Kaldor-Hicks criterion, and the related method of assessment known as benefit-cost analysis. Also reviewed are the means of environmental policy, that is, the choice of specific policy instruments, featuring an examination of potential criteria for assessing alternative instruments, with focus on cost-effectiveness. The theoretical foundations and experiential highlights of individual instruments are reviewed, including conventional command-and-control mechanisms and market-based instruments. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental economics; Efficiency; Cost-effectiveness; Benefit-cost analysis; Market-based instruments; Tradeable permits; Pollution taxes; Environmental Economics and Policy; K320; Q280; Q380; Q480. |
| Ano: 2004 |
URL: http://purl.umn.edu/10841 |
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| Stavins, Robert N.. |
| 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... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Cap-and-Trade System; Carbon Dioxide; Greenhouse Gas Emissions; Global Climate Change; Carbon Taxes; Q540; Q280; Q380; Q480; Q580. |
| Ano: 2008 |
URL: http://purl.umn.edu/42920 |
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| Aldy, Joseph E.; Stavins, Robert N.. |
| Emissions of greenhouse gases linked with global climate change are affected by diverse aspects of economic activity, including individual consumption, business investment, and government spending. An effective climate policy will have to modify the decision calculus for these activities in the direction of more efficient generation and use of energy, lower carbon-intensity of energy, and – more broadly – a more carbon-lean economy. The only approach to doing this on a meaningful scale that would be technically feasible and cost-effective is carbon pricing, that is, market-based climate policies that place a shadow-price on carbon dioxide emissions. We examine alternative designs of three such instruments – carbon taxes, cap-and-trade, and clean energy... |
| Tipo: Working Paper |
Palavras-chave: Global Climate Change; Market-Based Instruments; Carbon Pricing; Carbon Taxes; Cap-And-Trade; Clean Energy Standards; Environmental Economics and Policy; Q540; Q580; Q400; Q480. |
| Ano: 2011 |
URL: http://purl.umn.edu/119095 |
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