General Equilibrium Impacts of a Federal Clean Energy Standard

  title={General Equilibrium Impacts of a Federal Clean Energy Standard},
  author={Lawrence H. Goulder and Marc A. C. Hafstead and R. C. Williams},
Economists have tended to view emissions pricing (e.g., cap and trade or a carbon tax) as the most cost-effective approach to reducing greenhouse gas emissions. This paper offers a different view. Employing analytical and numerically solved general equilibrium models, it provides plausible conditions under which a more conventional form of regulation—namely, the use of a clean energy standard (CES)—is more cost-effective. The models reveal that the CES distorts factor markets less because it is… CONTINUE READING
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