Publications by Author: Schmalensee, Richard

2019
Stavins, Robert N., and Richard Schmalensee. “Policy Evolution Under the Clean Air Act.” Journal of Economic Perspectives 33, no. 4 (2019): 27-50. Publisher's Version policy_evolution_under_the_clean_air_act_jep-published_version.pdf
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Schmalensee, Richard, and Robert Stavins. “Learning from Thirty Years Cap & Trade.” Resources, no. 201 (2019). Publisher's Version
2017
Schmalensee, Richard, and Robert N. Stavins. “The Design of Environmental Markets: What Have We Learned From Experience With Cap and Trade?Oxford Review of Economic Policy 33, no. 4 (2017): 572-588.Abstract
This article reviews the design of environmental markets for pollution control over the past 30 years, and identifies key market-design lessons for future applications. The focus is on a subset of the cap-and-trade systems that have been implemented, planned, or proposed around the world. Three criteria led us to the selection of systems for review. First, among the broader class of tradable permit systems, our focus is exclusively on cap-and-trade mechanisms, thereby excluding emission-reduction-credit or offset programmes. Second, among cap-and-trade mechanisms, we examine only those that target pollution abatement, and so we do not include applications to natural resource management, such as individual transferable quota systems used to regulate fisheries. Third, we focus on the most prominent applications—those that are particularly important environmentally, economically, or both.
The Design of Environmental Markets: What Have We Learned From Experience With Cap and Trade?
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Schmalensee, Richard, and Robert N. Stavins. “Lessons Learned from Three Decades of Experience with Cap and Trade.” Review of Environmental Economics and Policy 11, no. 1 (2017): 59–79. Publisher's Version

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2013
Schmalensee, Richard, and Robert N Stavins. “The Sordid History of Congressional Acceptance and Rejection of Cap-and-Trade: Implications for Climate Policy.” VoxEU.org, 2013. Publisher's VersionAbstract
Not so long ago, cap-and-trade mechanisms for environmental protection were popular in Congress. Now, such mechanisms are denigrated. What happened? This column tells the sordid tale of how conservatives in Congress who once supported cap and trade now lambast climate change legislation as ‘cap-and-tax’. Ironically, conservatives are choosing to demonise their own market-based creation. The successful conservative campaign that disparaged cap-and-trade means it may now be politically impossible to promote it in the US. The good news? Elsewhere, cap and trade is now a proven, viable option for tackling large-scale environmental problems.
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Schmalensee, Richard, and Robert N Stavins. “The SO2 Allowance Trading System: The Ironic History of a Grand Policy Experiment.” Journal of Economic Perspectives 27 (2013): 103–122. Publisher's Version schmalensee_stavins_jep_2013.pdf

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2010
Schmalensee, Richard, and Robert Stavins. “The Power of Cap-and- Trade.” Boston.com (2010). Publisher's Version
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Stavins, Robert N, and Richard Schmalensee. “Renewable Irony.” The Huffington Post, 2010. Publisher's VersionAbstract
Those who believe that renewable electricity standards would create a huge number of green jobs have forgotten the lesson of Detroit: a large domestic market does not guarantee a healthy domestic industry.
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1996
Arrow, Kenneth J, Maureen L Cropper, George C Eads, Robert W Hahn, Lester B Lave, Roger G Noll, Paul R Portney, et al.Benefit-Cost Analysis in Environmental, Health, and Safety Regulation.” Washington, D.C. American Enterprise Institute, The Annapolis Center, and Resources for the Future, 1996. benefit_cost_analysis_in_environmental.aei_.1996.pdf

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Arrow, Kenneth J, Maureen L Cropper, George C Eads, Robert W Hahn, Lester B Lave, Roger G Noll, Paul R Portney, et al.Is There a Role for Benefit-Cost Analysis in Environmental, Health, and Safety Regulation?New Series 272 (1996): 221–222. Publisher's Version is_there_a_role_for_benefitcost_analysis.pdf

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