Lessons Learned from Three Decades of Experience with Cap-and-Trade
31 Pages Posted: 20 Jan 2016
Date Written: November 3, 2015
This essay provides an overview of the major emissions trading programs of the past thirty years on which significant documentation exists, and draws a number of important lessons for future applications of this environmental policy instrument. References to a larger number of other emissions trading programs that have been implemented or proposed are included.
Keywords: Market-based instruments, Cap-and-trade, Leaded Gasoline Phasedown, Clean Air Act Amendments of 1990, Sulfur Dioxide, Acid Rain, Carbon Dioxide, Global Climate Change, European Union Emissions Trading System
JEL Classification: Q54, Q58, Q40, Q48
Suggested Citation: Suggested Citation