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Assessment of U.S. cap-and-trade proposals

Author: Sergey V Paltsev; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2007.
Series: Working paper series (National Bureau of Economic Research), no. 13176.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
The MIT Emissions Prediction and Policy Analysis model is applied to synthetic policies that match key attributes of a set of cap-and-trade proposals being considered by the U.S. Congress in spring 2007. The bills fall into two groups: one specifies emissions reductions of 50% to 80% below 1990 levels by 2050; the other establishes a tightening target for emissions intensity and stipulates a time-path for a "safety  Read more...
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Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Sergey V Paltsev; National Bureau of Economic Research.
OCLC Number: 144609558
Description: 1 online resource (1 volume).
Series Title: Working paper series (National Bureau of Economic Research), no. 13176.
Responsibility: Sergey Paltsev [and others].

Abstract:

The MIT Emissions Prediction and Policy Analysis model is applied to synthetic policies that match key attributes of a set of cap-and-trade proposals being considered by the U.S. Congress in spring 2007. The bills fall into two groups: one specifies emissions reductions of 50% to 80% below 1990 levels by 2050; the other establishes a tightening target for emissions intensity and stipulates a time-path for a "safety valve" limit on the emission price that approximately stabilizes U.S. emissions at the 2008 level. Initial period prices are estimated between $7 and $50 per ton CO2-e with these prices rising by a factor of four by 2050. Welfare costs vary from near zero to less than 0.5% at the start, rising in the most stringent case to near 2% in 2050. If allowances were auctioned these proposals could produce revenue between $100 billion and $500 billion per year depending on the case. Outcomes from U.S. policies depend on mitigation effort abroads, and simulations are provided to illuminate terms-of-trade effects that influence the emissions prices and welfare effects, and even the environmental effectiveness, of U.S. actions. Sensitivity tests also are provided of several of key design features. Finally, the U.S. proposals, and the assumptions about effort elsewhere, are extended to 2100 to allow exploration of the potential role of these bills in the longer-term challenge of reducing climate change risk. Simulations show that the 50% to 80% targets are consistent with global goals of atmospheric stabilization at 450 to 550 ppmv CO2 but only if other nations, including the developing countries, follow suit.

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Primary Entity<\/h3>\n
<http:\/\/www.worldcat.org\/oclc\/144609558<\/a>> # Assessment of U.S. cap-and-trade proposals<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Book<\/a>, schema:MediaObject<\/a>, schema:CreativeWork<\/a> ;\u00A0\u00A0\u00A0\nlibrary:oclcnum<\/a> \"144609558<\/span>\" ;\u00A0\u00A0\u00A0\nlibrary:placeOfPublication<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Place\/cambridge_mass<\/a>> ; # Cambridge, Mass.<\/span>\n\u00A0\u00A0\u00A0\nlibrary:placeOfPublication<\/a> <http:\/\/id.loc.gov\/vocabulary\/countries\/mau<\/a>> ;\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Topic\/pollution_prevention_united_states<\/a>> ; # Pollution prevention--United States<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.loc.gov\/authorities\/subjects\/sh2009124870<\/a>> ; # Emissions trading--United States<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.worldcat.org\/fast\/1204155<\/a>> ; # United States.<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.worldcat.org\/fast\/802116<\/a>> ; # Air--Pollution--Law and legislation<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.loc.gov\/authorities\/subjects\/sh2007100952<\/a>> ; # Air--Pollution--Law and legislation--United States<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.worldcat.org\/fast\/1070229<\/a>> ; # Pollution prevention<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.worldcat.org\/fast\/802553<\/a>> ; # Air quality management--Government policy<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.loc.gov\/authorities\/subjects\/sh2009114578<\/a>> ; # Air quality management--Government policy--United States<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.loc.gov\/authorities\/subjects\/sh2008103047<\/a>> ; # Environmental policy--United States<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.worldcat.org\/fast\/908771<\/a>> ; # Emissions trading<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/dewey.info\/class\/330\/<\/a>> ;\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.worldcat.org\/fast\/913250<\/a>> ; # Environmental policy<\/span>\n\u00A0\u00A0\u00A0\nschema:bookFormat<\/a> schema:EBook<\/a> ;\u00A0\u00A0\u00A0\nschema:contributor<\/a> <http:\/\/viaf.org\/viaf\/79567240<\/a>> ; # Sergey Vladimirovich Paltsev<\/span>\n\u00A0\u00A0\u00A0\nschema:contributor<\/a> <http:\/\/viaf.org\/viaf\/135446122<\/a>> ; # National Bureau of Economic Research.<\/span>\n\u00A0\u00A0\u00A0\nschema:datePublished<\/a> \"2007<\/span>\" ;\u00A0\u00A0\u00A0\nschema:description<\/a> \"The MIT Emissions Prediction and Policy Analysis model is applied to synthetic policies that match key attributes of a set of cap-and-trade proposals being considered by the U.S. Congress in spring 2007. The bills fall into two groups: one specifies emissions reductions of 50% to 80% below 1990 levels by 2050; the other establishes a tightening target for emissions intensity and stipulates a time-path for a \"safety valve\" limit on the emission price that approximately stabilizes U.S. emissions at the 2008 level. Initial period prices are estimated between $7 and $50 per ton CO2-e with these prices rising by a factor of four by 2050. Welfare costs vary from near zero to less than 0.5% at the start, rising in the most stringent case to near 2% in 2050. If allowances were auctioned these proposals could produce revenue between $100 billion and $500 billion per year depending on the case. Outcomes from U.S. policies depend on mitigation effort abroads, and simulations are provided to illuminate terms-of-trade effects that influence the emissions prices and welfare effects, and even the environmental effectiveness, of U.S. actions. Sensitivity tests also are provided of several of key design features. Finally, the U.S. proposals, and the assumptions about effort elsewhere, are extended to 2100 to allow exploration of the potential role of these bills in the longer-term challenge of reducing climate change risk. Simulations show that the 50% to 80% targets are consistent with global goals of atmospheric stabilization at 450 to 550 ppmv CO2 but only if other nations, including the developing countries, follow suit.<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:exampleOfWork<\/a> <http:\/\/worldcat.org\/entity\/work\/id\/1079542020<\/a>> ;\u00A0\u00A0\u00A0\nschema:inLanguage<\/a> \"en<\/span>\" ;\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Series\/nber_working_paper_series<\/a>> ; # NBER working paper series ;<\/span>\n\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Series\/working_paper_series_national_bureau_of_economic_research<\/a>> ; # Working paper series (National Bureau of Economic Research) ;<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Assessment of U.S. cap-and-trade proposals<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:productID<\/a> \"144609558<\/span>\" ;\u00A0\u00A0\u00A0\nschema:publication<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/144609558#PublicationEvent\/cambridge_mass_national_bureau_of_economic_research_2007<\/a>> ;\u00A0\u00A0\u00A0\nschema:publisher<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Agent\/national_bureau_of_economic_research<\/a>> ; # National Bureau of Economic Research<\/span>\n\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/www.library.yorku.ca\/e\/resolver\/id\/1952933<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/VH7QX3XE2P.search.serialssolutions.com\/?V=1.0&L=VH7QX3XE2P&S=JCs&C=TC0001331584&T=marc&tab=BOOKS<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/ezproxy.eui.eu\/login?url=http:\/\/papers.nber.org\/papers\/<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/papers.nber.org\/papers\/w13176<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/papers.nber.org\/papers\/13176<\/a>> ;\u00A0\u00A0\u00A0\nwdrs:describedby<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/144609558<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Related Entities<\/h3>\n
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<http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Agent\/national_bureau_of_economic_research<\/a>> # National Bureau of Economic Research<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:Agent<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"National Bureau of Economic Research<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Place\/cambridge_mass<\/a>> # Cambridge, Mass.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Cambridge, Mass.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Series\/nber_working_paper_series<\/a>> # NBER working paper series ;<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/144609558<\/a>> ; # Assessment of U.S. cap-and-trade proposals<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"NBER working paper series ;<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Series\/working_paper_series_national_bureau_of_economic_research<\/a>> # Working paper series (National Bureau of Economic Research) ;<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/144609558<\/a>> ; # Assessment of U.S. cap-and-trade proposals<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Working paper series (National Bureau of Economic Research) ;<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Topic\/pollution_prevention_united_states<\/a>> # Pollution prevention--United States<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/id.loc.gov\/authorities\/subjects\/sh96004918<\/a>> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Pollution prevention--United States<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/ezproxy.eui.eu\/login?url=http:\/\/papers.nber.org\/papers\/<\/a>>\u00A0\u00A0\u00A0\nrdfs:comment<\/a> \"Check for full-text<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.loc.gov\/authorities\/subjects\/sh2007100952<\/a>> # Air--Pollution--Law and legislation--United States<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Air--Pollution--Law and legislation--United States<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.loc.gov\/authorities\/subjects\/sh2008103047<\/a>> # Environmental policy--United States<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Environmental policy--United States<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.loc.gov\/authorities\/subjects\/sh2009114578<\/a>> # Air quality management--Government policy--United States<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Air quality management--Government policy--United States<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.loc.gov\/authorities\/subjects\/sh2009124870<\/a>> # Emissions trading--United States<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Emissions trading--United States<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.loc.gov\/vocabulary\/countries\/mau<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\ndcterms:identifier<\/a> \"mau<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.worldcat.org\/fast\/1070229<\/a>> # Pollution prevention<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Pollution prevention<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.worldcat.org\/fast\/1204155<\/a>> # United States.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"United States.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.worldcat.org\/fast\/802116<\/a>> # Air--Pollution--Law and legislation<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Air--Pollution--Law and legislation<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.worldcat.org\/fast\/802553<\/a>> # Air quality management--Government policy<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Air quality management--Government policy<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.worldcat.org\/fast\/908771<\/a>> # Emissions trading<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Emissions trading<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.worldcat.org\/fast\/913250<\/a>> # Environmental policy<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Environmental policy<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/papers.nber.org\/papers\/13176<\/a>>\u00A0\u00A0\u00A0\nrdfs:comment<\/a> \"An electronic book accessible through the World Wide Web; click for information<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/VH7QX3XE2P.search.serialssolutions.com\/?V=1.0&L=VH7QX3XE2P&S=JCs&C=TC0001331584&T=marc&tab=BOOKS<\/a>>\u00A0\u00A0\u00A0\nrdfs:comment<\/a> \"VIEW FULL TEXT<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/viaf.org\/viaf\/135446122<\/a>> # National Bureau of Economic Research.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Organization<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"National Bureau of Economic Research.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/viaf.org\/viaf\/79567240<\/a>> # Sergey Vladimirovich Paltsev<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Paltsev<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Sergey Vladimirovich<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Sergey V.<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Sergey Vladimirovich Paltsev<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/144609558<\/a>>\u00A0\u00A0\u00A0\u00A0a \ngenont:InformationResource<\/a>, genont:ContentTypeGenericResource<\/a> ;\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/www.worldcat.org\/oclc\/144609558<\/a>> ; # Assessment of U.S. cap-and-trade proposals<\/span>\n\u00A0\u00A0\u00A0\nschema:dateModified<\/a> \"2019-02-09<\/span>\" ;\u00A0\u00A0\u00A0\nvoid:inDataset<\/a> <http:\/\/purl.oclc.org\/dataset\/WorldCat<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/144609558#PublicationEvent\/cambridge_mass_national_bureau_of_economic_research_2007<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:PublicationEvent<\/a> ;\u00A0\u00A0\u00A0\nschema:location<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Place\/cambridge_mass<\/a>> ; # Cambridge, Mass.<\/span>\n\u00A0\u00A0\u00A0\nschema:organizer<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/1079542020#Agent\/national_bureau_of_economic_research<\/a>> ; # National Bureau of Economic Research<\/span>\n\u00A0\u00A0\u00A0\nschema:startDate<\/a> \"2007<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Content-negotiable representations<\/p>\n