Carbon Taxes vs. Cap and Trade:
A Critical Review
Lawrence H. Goulder
Stanford University, Resources for the Future, and NBER
Andrew R. Schein
Stanford University
August 2013
We are grateful to Terry Dinan, Dennis Ellerman, David Harrison, Ken Judd, Suzi Kerr,
Charles McLure, Gib Metcalf, Richard Newell, Paul Schwartz, Robert Stavins, Jon Strand,
Michael Wara, and two anonymous referees for helpful suggestions, and to Anuradha
Sivaram and Xiaoling Zhou for research assistance.
