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Resolving The Inherent Uncertainty Of Carbon Taxes

Resolving The Inherent Uncertainty Of Carbon Taxes

Full Title: Resolving The Inherent Uncertainty Of Carbon Taxes
Author(s): Joseph E. Aldy, Marc Hafstead, Gilbert E. Metcalf, Brian C. Murray, William A. Pizer, Christina Reichert, and Roberton C. Williams III
Publisher(s): Harvard Environmental Law Review
Publication Date: June 1, 2016
Full Text: Download Resource
Description (excerpt):

This introduction to symposium essays in the Harvard Environmental Law Review describes the role of pricing carbon in contemporary climate change policy (with a summary of experience with carbon tax and cap-and-trade policies around the world) and points out similarities of carbon tax policies and cap-and-trade policies based on the academic literature. But it focuses on how a tax and cap-and-trade schemes differ in terms of their economic and emission outcomes in light of the uncertainty characterizing the markets and economies in which these instruments are used. These differences have potentially important economic, environmental, and political economy implications for U.S. climate change policy. Finally, the article highlights the proposals and key findings of each of the symposium essays, including Increasing Emissions Certainty under a Carbon Tax.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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