Economists Robert Stavins (Harvard) and Richard Schmalensee (MIT) make a key distinction between the substance of climate policy and the mechanisms for implementing it in the Boston Globe. In trashing efforts to pass a climate bill, Senate Republicans and a handful of Democrats sought to demonize …
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By Robert Hahn, Peter Passell | Tags: Boston Globe, cap-and-trade, Climate Change, Richard Schmalensee, Robert Stavins | Category: Environment, Quick Takes |
 Leave a commentIf Pres. Obama has his way, Washington will invest heavily in energy technology as part of a broader climate change initiative designed to wean us addicts from our daily (hourly? secondly?) carbon fix. The Republicans will take the technology minus the climate regulation, thank you very much. Either way, though, … In the beginning, economists touted emissions taxes and cap-and-trade systems as efficient, market-friendly methods for reducing pollution. The idea: put a price on pollution equal to the damage it caused or decide what level of emissions was acceptable to society as a whole, and then let businesses decide how to minimize … By Robert Hahn, Peter Passell | Tags: cap-and-trade, carbon tax, Climate Change, David Weisbach, environmental economics, Martin Weitzman, safety valve | Category: Interesting Research |
One commentNuclear power in America lives in an odd political/economic limbo. The 104 plants operating here (all built before 1978) have become the work horses of the utility industry, generating one-fifth of the nation’s electricity at low marginal cost thanks to vast improvements in their operating reliability. And, … By Robert Hahn, Peter Passell | Tags: cap-and-trade, carbon tax, Climate Change, environmental policy, John Parsons, nuclear power, Paul Joskow | Category: Energy, Environment |
One commentAs economists are way too fond of saying, there’s no free lunch out there. But some lunches are cheaper than others. And finding less expensive ways to contain the accumulation of greenhouse gases in the atmosphere will be central to a workable climate change policy. Robert Stavins, the … By Robert Hahn, Peter Passell | Tags: cap-and-trade, carbon sequestration, Climate Change, land use regulation, Robert Stavins | Category: Interesting Research |
One commentThe U.S. Congress is gung-ho on ethanol; the Germans are mad about solar panels, while the Danes have a thing for windmills. And, of course, they’re not alone: Countries around the globe are spending huge sums on subsidies for greener energy. If you’re suspicious that most of this money is being … By Robert Hahn, Peter Passell | Tags: Climate Change, David Anthoff, Dieter Helm, economic efficiency, Energy, environmental policy, ethanol | Category: Environment |
2 commentsAndrei Shleifer explains [Download Here] the relative success (and omnipresence) of regulation in modern economies by the relative failure of private alternatives (contract enforcement, tort adjudication). Christopher DeMuth, president emeritus of the American Enterprise Institute and a former crusader against regulation in the Reagan administration, … |
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