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dc.contributor.authorAldy, Joseph E.en_US
dc.contributor.authorStavins, Robert N.en_US
dc.description.abstractEmissions 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 standards. We note that the U.S. political response to possible market-based approaches to climate policy has been and will continue to be largely a function of issues and structural factors that transcend the scope of environmental and climate policy.en_US
dc.publisher|aFondazione Eni Enrico Mattei (FEEM) |cMilanoen_US
dc.relation.ispartofseries|aNota di lavoro // Fondazione Eni Enrico Mattei: Climate Change and Sustainable Development |x73.2011en_US
dc.subject.keywordGlobal Climate Changeen_US
dc.subject.keywordMarket-Based Instrumentsen_US
dc.subject.keywordCarbon Pricingen_US
dc.subject.keywordCarbon Taxesen_US
dc.subject.keywordClean Energy Standardsen_US
dc.titleUsing the market to address climate change: Insights from theory and experienceen_US
dc.typeWorking Paperen_US

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