NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Balancing Cost and Emissions Certainty: An Allowance Reserve for Cap-and-Trade

Brian C. Murray, Richard G. Newell, William A. Pizer

NBER Working Paper No. 14258
Issued in August 2008

---- Acknowledgements -----

The research was supported in part by a grant from the Swedish Foundation for Strategic Environmental Research (MISTRA). The authors acknowledge Joseph Aldy, Jon Anda, Jason Grumet, Suzanne Leonard, Tim Profeta, Nicole St. Clair, Robert Stavins, Tracy Terry, an anonymous referee, and participants at the Resources for the Future workshop, "Managing Costs in a U.S. GHG Trading Program," (Pizer and Tatsutani 2008) for their insights and suggestions on this issue. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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