Gernot Wagner

Articles by Gernot Wagner

7 November 2008

A cap-and-trade system would promote broad international participation

We gladly take on David Weisbach and Jane Milne's challenge to focus on the international dimension. David argues that a tax dominates on this count. We strongly disagree. A cap-and-trade system allows for the creation of a global carbon market.

10 October 2008

Even if simplicity is the only criterion, cap-and-trade might still be the best bet

Any system clearly needs to be well-designed. On that point, we all agree. The question then becomes whether a cap-and-trade system or a tax would allow for the best possible system to be put in place. We've already argued that a cap would be much more preferable on environmental grounds.

11 September 2008

The case for cap-and-trade: There's certainty in the environmental outcome

Cap and trade sometimes seems like the Rodney Dangerfield of environmental policies: It's popular with the masses (or in this case both presidential candidates, members of Congress, major environmental advocacy groups, and the private sector) but gets no respect from most academic economists and