Economics, Econometrics and Finance
5 years ago

Carbon Pricing Dilemma: Gradual Hike or Sudden Shock, Economies Brace for Impact

Setting a price for carbon for implementing a carbon tax or a cap and trade system for controlling carbon dioxide emissions
Wenfa Ng

Paper Summary

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Setting a price for carbon is crucial for controlling carbon dioxide emissions. One way is to gradually increase the price over time to help industries adjust. Alternatively, setting a high price at once could cause economic shocks. The decision on how to price carbon is important for the economy when choosing between a carbon tax or cap and trade system.