Carbon pricing is a broad term that encompasses two policy approaches: emissions trading and carbon taxation. Emissions trading places a cap on the aggregate emission level and allows the market to determine the price, whereas carbon taxation sets the price and allows the market to determine the...

In a recent article in this journal Hamlen (1977) extends the Baumol-Oates result that an emission fee which achieves a given level of an undepletable externality does so at minimum cost to society. He also suggests a procedure for empirically deriving the value of this fee.

In meeting the threat posed by climate change nations have responded quite differently. Using an extensive data set this study explores factors that affect individuals' attitudes towards climate change and how those attitudes ultimately affect national climate change policy. The results show...

In 1975 the United States Environmental Protection Agency initiated an historic process of regulatory reform, now known as the Emissions Trading Program. For nonuniformly-mixed pollutants, such as sulfur dioxides, air quality is a function not only of the level of emissions, but their location...