Publications by Author: Jaffe, Judson

Jaffe, Judson, Matthew Ranson, and Robert N Stavins. “Linking Tradable Permit Systems: A Key Element of Emerging International Climate Policy Architecture.” Ecology Law Quarterly 36 (2009): 789–808. Publisher's Version jaffe-ranson-stavins-elq.pdf


Stavins, Robert N, Judson Jaffe, and Todd Schatzki. “Free Greenhouse Gas Cuts: Too Good to Be True?, 2008. Publisher's VersionAbstract
The possibility of “no cost” emission reductions has been raised by research on California’s Global Warming Solutions Act of 2006. Here is a more sober assessment. Overly optimistic findings leave policymakers with inadequate appreciation of the stakes, and provide little insight into the relative cost of policy design alternatives.
Jaffe, Judson, and Robert N Stavins. “Linkage of Tradable Permit Systems in International Climate Policy Architecture.” Cambridge, Massachusetts, USA: Harvard Project on Climate Agreements, 2008. Publisher's VersionAbstract

Cap-and-trade systems have emerged as the preferred national and regional instrument for reducing emissions of greenhouse gases throughout the industrialized world, and the Clean Development Mechanism — an international emission-reduction-credit system — has developed a substantial constituency, despite some concerns about its performance. Because linkage between tradable permit systems can reduce compliance costs and improve market liquidity, there is great interest in linking cap-and-trade systems to each other, as well as to the CDM and other credit systems. We examine the benefits and concerns associated with various types of linkages, and analyze the near-term and long-term role that linkage may play in a future international climate policy architecture. In particular, we evaluate linkage in three potential roles: as an independent bottom-up architecture, as a step in the evolution of a top-down architecture, and as an ongoing element of a larger climate policy agreement. We also assess how the policy elements of climate negotiations can facilitate or impede linkages. Our analysis throughout is both positive and normative.



Jaffe, Judson, and Robert N Stavins. “Linking a U.S. Cap-and-Trade System for Greenhouse Gas Emissions: Opportunities, Implications, and Challenges.” Washington, D.C. AEI-Brookings Joint Center for Regulatory Studies, 2008. aei-brookings_epri_paper.pdf


Jaffe, Judson, and Robert N Stavins. “Linking Tradable Permit Systems for Greenhouse Gas Emissions: Opportunities, Implications, and Challenges.” Geneva, Switzerland: International Emissions Trading Association, 2007. ieta_linking_report.pdf


Stavins, Robert, Judson Jaffe, and Todd Schatzki. “Too good to be true? An examination of three economic assessments of California climate change policy.” National Bureau of Economic Research, 2007. Publisher's Version too_good_to_be_true.pdf


Jaffe, Judson, and Robert N Stavins. “On the Value of Formal Assessment of Uncertainty in Regulatory Analysis.” Regulation & Governance 1 (2007): 154–171.Abstract

The US Office of Management and Budget introduced in 2003 a new requirement for the treatment of uncertainty in Regulatory Impact Analyses (RIAs) of proposed regulations, requiring agencies to carry out a formal quantitative uncertainty assessment regarding a regulation’s benefits and costs if either is expected to reach \$1 billion annually. Despite previous use in other contexts, such formal assessments of uncertainty have rarely been employed in RIAs or other regulatory analyses. We describe how formal quantitative assessments of uncertainty – in particular, Monte Carlo analyses – can be conducted, we examine the challenges and limitations of such analyses in the context of RIAs, and we assess how the resulting information can affect the evaluation of regulations. For illustrative purposes, we compare Monte Carlo analysis with methods typically used in RIAs to evaluate uncertainty in the context of economic analyses carried out for the US Environmental Protection Agency’s Nonroad Diesel Rule, which became effective in 2004. [ABSTRACT FROM AUTHOR] Copyright of Regulation & Governance is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)



Stavins, Robert N, and Judson Jaffe. “The Value of Formal Quantitative Assessment of Uncertainty in Regulatory Analysis.” Washington, D.C. AEI-Brookings Joint Center for Regulatory Studies, 2004. jaffe_stavins_monte_carlo.pdf