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Registros recuperados: 8
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A Meaningful U.S. Cap-and-Trade System to Address Climate Change AgEcon
Stavins, Robert N..
Tipo: Working or Discussion Paper Palavras-chave: Cap-and-Trade System; Carbon Dioxide; Greenhouse Gas Emissions; Global Climate Change; Carbon Taxes; Environmental Economics and Policy; Q540; Q280; Q380; Q480; Q580.
Ano: 2008 URL: http://purl.umn.edu/44469
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Addressing Climate Change with a Comprehensive U.S. Cap-and-Trade System AgEcon
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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Environmental Economics AgEcon
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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Environmental Law and Public Policy AgEcon
Revesz, Richard L.; Stavins, Robert N..
This chapter provides an economic perspective of environmental law and policy with regard to both normative and positive dimensions. It begins with an examination of the central problem in environmental regulation: the tendency of pollution generators in an unconstrained market economy to externalize some of the costs of their production, leading to an inefficiently large amount of pollution. We examine the ends of environmental policy, that is, the setting of goals and targets, beginning with normative issues, notably the Kaldor-Hicks criterion and the related method of assessment known as benefit-cost analysis. We examine this analytical method in detail, including its theoretical foundations and empirical methods of estimation of compliance costs and...
Tipo: Working or Discussion Paper Palavras-chave: Environmental economics; Environmental law; Efficiency; Cost-effectiveness; Benefit-cost analysis; Environmental federalism; Environmental Economics and Policy; K320; Q280; Q380; Q480.
Ano: 2004 URL: http://purl.umn.edu/10742
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Hedging Alberta Government's Oil and Gas Revenue: Is Acting Like a Farmer a Viable Strategy? AgEcon
Hotz, Joffre; Unterschultz, James R..
The provincial government of Alberta in Canada experiences significant annual revenue variability arising from changes in crude oil and natural gas prices. This research evaluated whether Alberta’s non-renewable revenue risk could be managed using a derivatives hedging program. Results from a historical hedging simulation approach suggested that such a program would not have been the most effective method of managing revenue risk over the period of 1995-96 to 2003-04. Total impacts of hedging would have varied from Can-$8 Billion to Can $6 Billion over this time period. These results suggest the Alberta government explore alternative methods to manage non-renewable resource revenue risk.
Tipo: Working or Discussion Paper Palavras-chave: Government Hedging; Risk Hedging; Public Economics; Resource /Energy Economics and Policy; Risk and Uncertainty; Q480; G11.
Ano: 2009 URL: http://purl.umn.edu/91401
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Interactions between State and Federal Climate Change Policies AgEcon
Goulder, Lawrence H.; Stavins, Robert N..
Federal action addressing climate change is likely to emerge either through new legislation or via the U.S. EPA’s authority under the Clean Air Act. The prospect of federal action raises important questions regarding the interconnections between federal efforts and state-level climate policy developments. In the presence of federal policies, to what extent will state efforts be cost-effective? How does the co-existence of state- and federal-level policies affect the ability of state efforts to achieve emissions reductions? This paper addresses these questions. We find that state-level policy in the presence of a federal policy can be beneficial or problematic, depending on the nature of the overlap between the two systems, the relative stringency of...
Tipo: Working or Discussion Paper Palavras-chave: Global Climate Change; Federalism; Cap-And-Trade; Carbon Tax; Regulation; Environmental Economics and Policy; H110; H770; K320; L510; Q480; Q540.
Ano: 2010 URL: http://purl.umn.edu/93413
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The Promise and Problems of Pricing Carbon: Theory and Experience AgEcon
Aldy, Joseph E.; Stavins, Robert N..
Because of the global commons nature of climate change, international cooperation among nations will likely be necessary for meaningful action at the global level. At the same time, it will inevitably be up to the actions of sovereign nations to put in place policies that bring about meaningful reductions in the emissions of greenhouse gases. Due to the ubiquity and diversity of emissions of greenhouse gases in most economies, as well as the variation in abatement costs among individual sources, conventional environmental policy approaches, such as uniform technology and performance standards, are unlikely to be sufficient to the task. Therefore, attention has increasingly turned to market-based instruments in the form of carbon-pricing mechanisms. We...
Tipo: Working Paper Palavras-chave: Global Climate Change; Market-Based Instruments; Carbon Pricing; Carbon Taxes; Cap-and-Trade; Emission Reduction Credits; Energy Subsidies; Clean Energy Standards; Environmental Economics and Policy; Q540; Q580; Q400; Q480.
Ano: 2011 URL: http://purl.umn.edu/119105
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Using the Market to Address Climate Change: Insights from Theory and Experience AgEcon
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
Registros recuperados: 8
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