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首页> 外文期刊>Review of environmental economics and policy >Cap and Trade, Rehabilitated: Using Tradable Permits to Control U.S. Greenhouse Gases
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Cap and Trade, Rehabilitated: Using Tradable Permits to Control U.S. Greenhouse Gases

机译：限额交易，已修复：使用可交易的许可证控制美国温室气体

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Establishing the right long-run framework for U.S. climate policy is crucially important. Once in place, such a policy will create its own constituencies and its own inertia-not only among regulated entities, but also within government regulatory agencies like the EPA. Creating the right initial policy framework will also help to align the expectations (and investment plans) of regulated firms with long-run policy objectives.rnIn recent years, a dominant view has emerged among academic economists that a carbon tax, rather than a cap and trade program, is the appropriate policy for addressing global warming. While a tax may appear to offer an elegant solution, theoretical elegance does not ensure success in the real world. This article has argued that a cap and trade approach has a number of important advantages. A system of tradable permits offers a great deal of flexibility in allocating the value of emissions, enhancing its political feasibility. Trading promotes cost-effectiveness, broad participation, and equity in the international context, without the high-level coordination that a tax would require. Finally, contrary to the conventional wisdom, controlling the cumulative quantity of GHG emissions may be superior on efficiency grounds when marginal abatement costs are uncertain.rnAt the same time, the debate over the relative merits of cap and trade and a carbon tax should not obscure another important point: Market-based environmental policy has taken center stage in the debate on climate policy. We should neither lose sight of the significance of this development nor take it for granted. Economists have a crucial role to play in helping to promote sound policy, in particular by highlighting the advantages of market-based policies over command-and-control regulations; emphasizing the efficiency gains from broad coverage and revenue recycling; and designing measures to manage price volatility while preserving a long-run emissions target.
机译：建立正确的美国气候政策长期框架至关重要。一旦实施，这样的政策将不仅在受监管的实体之间，而且也在诸如EPA之类的政府监管机构内部，创建自己的选区和惯性。建立正确的初始政策框架也将有助于使受监管公司的期望（和投资计划）与长期政策目标保持一致。近年来，学术经济学家中出现了一种主流观点，即碳税，而不是上限和上限。贸易计划是应对全球变暖的适当政策。尽管征税似乎可以提供一种优雅的解决方案，但理论上的优雅并不能确保在现实世界中取得成功。本文认为限额交易法具有许多重要的优势。可交易的许可证制度在分配排放价值方面提供了很大的灵活性，增强了其政治可行性。在国际范围内进行贸易可以提高成本效益，广泛参与和公平，而无需征税就可以进行高层协调。最后，与传统观点相反，在不确定边际减排成本的情况下，出于效率考虑，控制温室气体的累积排放量可能会更好.rn同时，关于限额和贸易以及碳税的相对优点的争论不应模糊不清另一个重要点：基于市场的环境政策在有关气候政策的辩论中占据了中心位置。我们既不应忽视这一发展的重要性，也不应将其视为理所当然。经济学家在帮助促进健全政策方面可发挥关键作用，特别是通过强调基于市场的政策相对于命令和控制法规的优势；强调从广泛的覆盖范围和收益回收中获得的效率提高；设计措施以管理价格波动，同时保留长期排放目标。

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