NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Lessons Learned from Three Decades of Experience with Cap-and-Trade

Richard Schmalensee, Robert Stavins

NBER Working Paper No. 21742
Issued in November 2015
NBER Program(s):   EEE

This essay provides an overview of the major emissions trading programs of the past thirty years on which significant documentation exists, and draws a number of important lessons for future applications of this environmental policy instrument. References to a larger number of other emissions trading programs that have been implemented or proposed are included

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Document Object Identifier (DOI): 10.3386/w21742

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