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• Carbon Offsets, Reversal Risk and U.S. Climate Policy

  Fri, 10 Jul 2009 00:00:00 GMT

  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.

• Towards a Realistic Global Climate Agreement

  Sun, 30 Nov 2008 00:00:00 GMT

  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.

• Technological Scarcity, Compliance Flexibility and the Optimal Time Path of Emissions Abatement

  Tue, 25 Nov 2008 00:00:00 GMT

  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.

• Prices in Emissions Permit Markets

  Mon, 24 Nov 2008 00:00:00 GMT

  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.