Energy Security Initiative Working Papers
Energy Security Initiative working papers provide a platform for Brookings scholars and other energy experts to circulate their work to the broader energy analysis and policy communities. These papers are intended to facilitate discussion on a variety of topics, from the geopolitics of oil and gas and power sector regulatory reform to the design of effective domestic and international climate regimes. Contributing authors approach problems from a variety of qualitative and quantitative perspectives, providing fresh insight, fact-based analysis and timely policy recommendations.
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In this Series
2009
July 2009
One controversial issue in the larger cap-and-trade debate is the proper use and certification of carbon offsets related to changes in land management. Bryan Mignone, Matthew Hurteau, Yihsu Chen and Brent Sohngen show how reversal risk associated with such instruments could be properly internalized in a crediting framework and how this framework itself could be used to manage prices in the future carbon market.
2008
November 2008
Warwick McKibbin and Peter Wilcoxen write that as a mechanism for controlling climate change, the Kyoto Protocol has not been a success. They offer an alternative framework for international climate policy, the McKibbin-Wilcoxen Hybrid3 as an approach that focuses on coordinated actions rather than mandated, inflexible outcomes.
November 2008
The economic costs of a cap-and-trade system will depend on the extent to which the program facilitates compliance flexibility. Bryan Mignone compares the costs of different cap-and-trade policy architectures and estimates the economic value of realizing flexibility with respect to the timing of emissions abatement.
November 2008
Establishment of a mandatory cap-and-trade system in the United States remains an essential element of a comprehensive response to the global climate problem. Bryan Mignone considers the expected evolution of allowance prices in the future carbon market and what this implies for the design of provisions to limit the economic costs of such a program.