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Tackling climate change with new permits to pollute

6 January 2009

A new way to reduce carbon dioxide emissions and tackle climate change had been unveiled by leading economists. The economists, whose work is published in Review of Environmental Economics and Policy along with two other research papers, say it could appeal to supporters of a carbon tax and also to those who favour the alternative, so-called cap-and-trade.

From the papers:

Balancing Cost and Emissions Certa inty: An Allowance Reserve for Cap-and-Trade
Brian C. Murray, Richard G. Newell, and William A. Pizer

Designing a Carbon Tax to Reduce US Greenhouse Gas Emissions
Gilbert E. Metcalf

Cap-and-Trade, Rehabilitated: Using Tradable Permits to Control U.S. Greenhouse Gases
Nathaniel O. Keohane

Read the press release online