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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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| 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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| Stavins, Robert N.. |
| The problem of the commons is more important to our lives and thus more central to economics than a century ago when Katharine Coman led off the first issue of the American Economic Review. As the U.S. and other economies have grown, the carrying-capacity of the planet - in regard to natural resources and environmental quality — has become a greater concern, particularly for common-property and open-access resources. The focus of this article is on some important, unsettled problems of the commons. Within the realm of natural resources, there are special challenges associated with renewable resources, which are frequently characterized by open access. An important example is the degradation of open-access fisheries. Critical commons problems are also... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Common-Property Resource; Open-Access Resource; Fisheries; Global Climate Change; Land Economics/Use; Q220; Q280; Q500; Q540; Q580. |
| Ano: 2010 |
URL: http://purl.umn.edu/98048 |
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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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