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Designing Climate Mitigation Policy

Joseph E. Aldy¹; Alan J Krupnick²; Richard G. Newell³; Ian W. H. Parry²; William A. Pizer⁴

¹ Special Assistant to the President on Energy and the Environment. · ² Resources For The Future · ³ Nicholas School of the Environment and Earth Sciences, Duke University. · ⁴ ?

This paper provides (for the nonspecialist) a highly streamlined discussion of the main issues, and controversies, in the design of climate mitigation policy. The first part of the paper discusses how much action to reduce greenhouse gas emissions at the global level is efficient under both the cost-effectiveness and welfare-maximizing paradigms. We then discuss various issues in the implementation of domestic emissions control policy, instrument choice, and incentives for technological innovation. Finally, we discuss alternative policy architectures at the international level. (JEL Q54, Q58)

DOI

10.1257/jel.48.4.903

Volume

48 (4)

Pages

903-934

Language

en

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BibTeX

Sources

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