CO2 emissions mandates for new light-duty passenger vehicles have recently been adopted in the European Union (EU), which require steady reductions to 95 g CO2/km in 2021. Using a computable general equilibrium (CGE) model, we analyze the impact of the mandates on oil demand, CO2 emissions, and...

Passenger vehicles and power plants are major sources of GHG emissions. While economic analyses generally indicate that a broader market-based approach to GHG reduction would be less costly and more effective, regulatory approaches have found greater political success. We evaluate a global...

We analyze the distributional and efficiency impacts of different allowance allocation schemes for a national cap and trade system using the USREP model, a new recursive dynamic computable general equilibrium model of the U.S. economy. The USREP model tracks nine different income groups and...