(1) Tradable emissions rights and joint implementation for greenhouse gas abatement: A look under the hood [Schmalensee]; (2) Commentary [Prinn]

Joint Program Reprint • Book/Chapter
(1) Tradable emissions rights and joint implementation for greenhouse gas abatement: A look under the hood [Schmalensee]; (2) Commentary [Prinn]
Schmalensee, R., R.G. Prinn (1999)
The Impact of Climate Change Policy on Consumers Can Tradable Permits Reduce the Cost?, C. Walker et al. (editors), American Council for Capital Formation Center for Policy Research, Washington DC, (i) pp. 39-45; (ii) pp. 65-71

Reprint 1999-9 [Download]

Abstract/Summary:

This paper provides a penetrating analysis of the Clinton Administration's pre-Kyoto proposal for imposing national limits on greenhouse gas emissions in the context of negotiations for an international agreement. The Administration's "U.S. Draft Protocol Framework" (17 January 1997), which suggests tradable permits and joint implementation are the favored policy vehicles to achieve emissions reductions, shows neglect of important issues. It has the potential to take us for a bumpy ride (with non-negligible implementation problems and potentially excessive abatement costs) in the wrong direction (toward short-run reductions in rich country emissions from fossil fuels). The subsequent Commentary continues the metaphor to discuss: How good are the climate road maps?, What road are we on?, and Can backseat drivers (scientists) help?

Citation:

Schmalensee, R., R.G. Prinn (1999): (1) Tradable emissions rights and joint implementation for greenhouse gas abatement: A look under the hood [Schmalensee]; (2) Commentary [Prinn]. The Impact of Climate Change Policy on Consumers Can Tradable Permits Reduce the Cost?, C. Walker et al. (editors), American Council for Capital Formation Center for Policy Research, Washington DC, (i) pp. 39-45; (ii) pp. 65-71 (http://globalchange.mit.edu/publication/13679)
  • Joint Program Reprint
  • Book/Chapter
(1) Tradable emissions rights and joint implementation for greenhouse gas abatement: A look under the hood [Schmalensee]; (2) Commentary [Prinn]

Schmalensee, R., R.G. Prinn

The Impact of Climate Change Policy on Consumers Can Tradable Permits Reduce the Cost?
1999-9
C. Walker et al. (editors), American Council for Capital Formation Center for Policy Research, Washington DC, (i) pp. 39-45; (ii) pp. 65-71

Abstract/Summary: 

This paper provides a penetrating analysis of the Clinton Administration's pre-Kyoto proposal for imposing national limits on greenhouse gas emissions in the context of negotiations for an international agreement. The Administration's "U.S. Draft Protocol Framework" (17 January 1997), which suggests tradable permits and joint implementation are the favored policy vehicles to achieve emissions reductions, shows neglect of important issues. It has the potential to take us for a bumpy ride (with non-negligible implementation problems and potentially excessive abatement costs) in the wrong direction (toward short-run reductions in rich country emissions from fossil fuels). The subsequent Commentary continues the metaphor to discuss: How good are the climate road maps?, What road are we on?, and Can backseat drivers (scientists) help?

[ARTICLE PDF]