In the recent United Nations Framework Convention on Climate Change (UNFCCC) negotiations, sectoral trading was proposed to encourage early action and spur investment in low carbon technologies in developing countries. This mechanism involves including a sector from one or more nations in an...

The U.S. Congress is considering a set of bills designed to limit the nation's greenhouse gas (GHG) emissions. This paper complements the analysis by Paltsev et al. (2007) of cap-and-trade bills and applies the MIT Emissions Prediction and Policy Analysis (EPPA) model to carry out an analysis of...

The paper is in two parts. The first is a fable starring Ripley Van Winkle, an eminent Scientist; and, the Nation’s Leader, who needs no introduction. “Rip” is disturbed about the nature and direction of current climate policy and wants to know why people are ignoring the naked truth about...

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...