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Chan, Gabriel; Stavins, Robert N.; Stowe, Robert; Sweeney, Richard. |
The introduction of the U.S. SO2 allowance-trading program to address the threat of acid rain as part of the Clean Air Act Amendments of 1990 is a landmark event in the history of environmental regulation. The program was a great success by almost all measures. This paper, which draws upon a research workshop and a policy roundtable held at Harvard in May 2011, investigates critically the design, enactment, implementation, performance, and implications of this path-breaking application of economic thinking to environmental regulation. Ironically, cap and trade seems especially well suited to addressing the problem of climate change, in that emitted greenhouse gases are evenly distributed throughout the world’s atmosphere. Recent hostility toward cap and... |
Tipo: Working Paper |
Palavras-chave: Cap-and-Trade; Market-Based Environmental Policy; Acid Rain; Sulfur Dioxide; Clean Air Act Amendments; Environmental Economics and Policy; Q520; Q550; Q580. |
Ano: 2012 |
URL: http://purl.umn.edu/121722 |
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Jaffe, Judson; Stavins, Robert N.. |
Cap-and-trade systems have emerged as the preferred national and regional instrument for reducing emissions of greenhouse gases throughout the industrialized world, and the Clean Development Mechanism — an international emission-reduction-credit system — has developed a substantial constituency, despite some concerns about its performance. Because linkage between tradable permit systems can reduce compliance costs and improve market liquidity, there is great interest in linking cap-and-trade systems to each other, as well as to the CDM and other credit systems. We examine the benefits and concerns associated with various types of linkages, and analyze the near-term and long-term role that linkage may play in a future international climate policy... |
Tipo: Working or Discussion Paper |
Palavras-chave: Linkage; Cap-and-Trade; Tradable Permits; Global Climate Change; Environmental Economics and Policy; F500; Q200; Q400; Q500. |
Ano: 2008 |
URL: http://purl.umn.edu/46624 |
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