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dc.contributor.authorRausch, Sebastian
dc.contributor.authorKarplus, Valerie Jean
dc.date.accessioned2015-09-24T14:39:38Z
dc.date.available2015-09-24T14:39:38Z
dc.date.issued2014-09
dc.identifier.issn01956574
dc.identifier.urihttp://hdl.handle.net/1721.1/98889
dc.description.abstractRegulatory measures have proven the favored approach to climate change mitigation in the U.S., while market-based policies have gained little traction. Using a model that resolves the U.S. economy by region, income category, and sector-specific technology deployment opportunities, this paper studies the magnitude and distribution of economic impacts under regulatory versus market-based approaches. We quantify heterogeneity in the national response to regulatory policies, including a fuel economy standard and a clean or renewable electricity standard, and compare these to a cap-and-trade system targeting carbon dioxide or all greenhouse gases. We find that the regulatory policies substantially exceed the cost of a cap-and-trade system at the national level. We further show that the regulatory policies yield large cost disparities across regions and income groups, which are exaggerated by the difficulty of implementing revenue recycling provisions under regulatory policy designs.en_US
dc.description.sponsorshipMassachusetts Institute of Technology. Joint Program on the Science & Policy of Global Changeen_US
dc.description.sponsorshipMIT Energy Initiativeen_US
dc.description.sponsorshipUnited States. Dept. of Energy (Integrated Assessment Grant DE-FG02-94ER61937)en_US
dc.language.isoen_US
dc.publisherInternational Association for Energy Economics (IAEE)en_US
dc.relation.isversionofhttp://dx.doi.org/10.5547/01956574.35.SI1.11en_US
dc.rightsCreative Commons Attribution-Noncommercial-Share Alikeen_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/4.0/en_US
dc.sourceMIT web domainen_US
dc.titleMarkets versus Regulation: The Efficiency and Distributional Impacts of U.S. Climate Policy Proposalsen_US
dc.typeArticleen_US
dc.identifier.citationRausch, Sebastian, and Valerie J. Karplus. “Markets Versus Regulation: The Efficiency and Distributional Impacts of U.S. Climate Policy Proposals.” The Energy Journal 35, no. 01 (September 1, 2014).en_US
dc.contributor.departmentMassachusetts Institute of Technology. Joint Program on the Science & Policy of Global Changeen_US
dc.contributor.departmentSloan School of Managementen_US
dc.contributor.mitauthorKarplus, Valerie Jeanen_US
dc.relation.journalThe Energy Journalen_US
dc.eprint.versionAuthor's final manuscripten_US
dc.type.urihttp://purl.org/eprint/type/JournalArticleen_US
eprint.statushttp://purl.org/eprint/status/PeerRevieweden_US
dspace.orderedauthorsRausch, Sebastian; Karplus, Valerie J.en_US
mit.licenseOPEN_ACCESS_POLICYen_US


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