Norregaard, John; Reppelin-Hill, Valérie - International Monetary Fund (IMF) - 2000
This paper examines the relative merits of two dominant economic instruments for reducing pollution—”green” taxes and … other. In practice, however, most countries have relied more on taxes than on permits to control pollution. The analysis … to experiment with tradable permits seems to be growing, especially given the Kyoto protocol emission targets. …