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Designing carbon markets, part II: carbon markets in space

Hepburn, Cameron and Fankhauser, Samuel (2010) Designing carbon markets, part II: carbon markets in space. Energy Policy, 38 (8). pp. 4381-4387. ISSN 0301-4215

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Abstract

This paper analyses the design of carbon markets in space (i.e., geographically). It is part of a twin set of papers that, starting from first principles, ask what an optimal global carbon market would look like by around 2030. Our focus is on firm-level cap-and-trade systems, although much of what we say would also apply to government-level trading and carbon offset schemes. We examine the "first principles" of spatial design to maximise flexibility and to minimise costs, including key design issues in linking national and regional carbon markets together to create a global carbon market.

Item Type: Article
Official URL: http://www.elsevier.com/locate/enpol
Additional Information: © 2010 Elsevier B.V
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HB Economic Theory
Sets: Research centres and groups > Grantham Research Institute on Climate Change and the Environment
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: UT ISI:000279117500053
Funders: Grantham Foundation for the Protection of the Environment, Economic and Social Research Council, Munich Re
Date Deposited: 05 Aug 2010 10:30
URL: http://eprints.lse.ac.uk/28833/

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