RESEARCH AND COMMENTARY
Adele Morris, October 26, 2009, The Brookings Institution
A cap-and-trade system of the sort envisioned by the current generation of Congressional proposals would create a new market in carbon allowances worth potentially hundreds of billions of dollars. In this paper, Adele Morris discusses the likely distributional implications of a U.S. cap-and-trade system and how policymakers could manage these implications by altering the way in which allowances or allowance revenues are distributed throughout the broader economy. Read More
VIDEO
Warwick J. McKibbin, November 13, 2009
Delaying national commitments to reach reduced greenhouse gas emissions will be more costly for national governments in the long run. Nonresident Senior Fellow Warwick McKibbin says the floundering global economy is a critical factor in what actions can be taken now.
VIDEO
Adele Morris, November 06, 2009
The Senate Environment and Public Works Committee approved a climate change bill last week despite a boycott from Republican committee members. Fellow Adele Morris examines the legislation and what policymakers will be able to offer at the climate change talks in Copenhagen next month.
PAST EVENT
Wednesday, November 04, 2009
3:30 PM to 5:00 PM
Washington, DC
As attention to U.S. climate legislation has been increasing on Capitol Hill, Brookings hosted a discussion on a new series of papers on U.S. climate policy design. These papers acknowledge the complexity inherent in climate policy; explain the fundamental challenges involved in addressing a particular set of design features; and suggest a credible path forward, calling attention to tradeoffs where they exist. Read More
RESEARCH AND COMMENTARY
Carolyn Fischer and Richard Morgenstern, October 26, 2009, The Brookings Institution
A number of climate policy observers and U.S. policymakers have expressed concerns about the implications of climate policy for the U.S. industrial base. In this paper, Carolyn Fischer and Richard Morgenstern show that specific concerns about industrial competitiveness and emissions leakage could be realistically addressed in the context of a cap-and-trade system without unduly distorting the incentives that are essential to realizing an economically efficient outcome. Read More
VIDEO
Warwick J. McKibbin, September 24, 2009
Crafting global policy to address climate change is a priority for leaders attending the G-20 Summit in Pittsburgh. Nonresident Senior Fellow Warwick McKibbin previews the talks, noting the complexities the leaders face in finding the common ground necessary to tackle this consuming issue.
RESEARCH AND COMMENTARY
Bryan K. Mignone, September 17, 2009, The Brookings Institution
Binding greenhouse gas emissions targets are the backbone of any cap-and-trade system, but the appropriate stringency of domestic reductions remains an unresolved issue in US legislation. In this paper, Bryan Mignone shows how available scientific information could be coupled with a variety of judgments about climate risk and international burden-sharing to yield a plausible range of domestic cap-and-trade targets. Read More
RESEARCH AND COMMENTARY
Bryan K. Mignone, September 17, 2009, The Brookings Institution
Concerns about the economic costs of climate policy and the potential for volatility in the future carbon market have led to a proliferation of possible mechanisms to mitigate these concerns. Bryan Mignone shows how a coherent "cost containment" policy could be constructed by considering two key substantive objectives – price stability and cost viability – and then tailoring policy instruments to meet these objectives. Read More
RESEARCH AND COMMENTARY
Craig Pirrong, September 17, 2009, The Brookings Institution
Craig Pirrong writes that current legislative attempts to regulate derivatives trading in the climate and energy context are severely misguided. While arguing that the ex post enforcement regime should be strengthened to deter price manipulation, he suggests that overly restrictive clearing and exchange requirements will dramatically increase the costs of managing carbon price risk. Read More
RESEARCH AND COMMENTARY
September 17, 2009, The Brookings Institution
On September 24, President Obama will chair his first G-20 Summit in Pittsburgh. With the world economy improving, leaders will now focus their attention on economic recovery and restoring financial stability. Experts from Brookings Global Economy and Development program analyze top issues to be addressed at the summit and provide recommendations on how to effectively overcome global economic and governance challenges to ensure recovery now and to prevent future crises. Read More
PAST EVENT
Friday, September 11, 2009
8:45 AM to 1:00 PM
Washington, DC
On September 11, the Brookings Institution’s Energy Security Initiative and Metropolitan Policy Program hosted a discussion on the challenges of modernizing the electricity grid. Read More
RESEARCH AND COMMENTARY
September 10, 2009, The Brookings Institution
As the financial crisis continues to take its toll on the global economy, another serious challenge looms large: preventing the planet from warming more than 3.6 degrees Fahrenheit. Brookings experts and colleagues from the public and private sectors develop strategies and provide recommendations to policymakers who are now faced with the daunting task of stabilizing the climate without dampening economic recovery.
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RESEARCH AND COMMENTARY
Adele Morris, Warwick J. McKibbin and Peter J. Wilcoxen, August 28, 2009, The Brookings Institution
The global financial crisis proves how unforeseen macroeconomic conditions can affect policies aimed at reducing and stabilizing greenhouse gas emissions. This paper outlines an example that shows that a price collar can have a negligible expected impact on the outcome that matters most for the climate—increasing emissions.
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BOOK
Isaac Sorkin and Lael Brainard, July 31, 2009
Brookings Trade Forum provides comprehensive analysis on current and emerging issues of international trade and macroeconomics. Practitioners and academics contribute to
each volume, with papers that provide an in-depth look at a particular topic. The 2008/2009 edition focuses on climate policy and its impact on trade. Read More
RESEARCH AND COMMENTARY
Warwick J. McKibbin, Adele Morris, Peter J. Wilcoxen and Yiyong Cai, July 27, 2009, The Brookings Institution
Brookings experts Adele Morris, Peter Wilcoxen and Warwick McKibbin analyze the economic effects of a potential U.S. cap-and-trade program and offer insights to policy-makers on how to limit climate change by reducing greenhouse gas emissions with little risk to the economy. Read More