Found 711 article(s) in category 'Regulation'

China’s Emissions Trading System and an ETS-Carbon Tax Hybrid

China’s Emissions Trading System and an ETS-Carbon Tax Hybrid. Dale Jorgenson, April 29, 2019, Paper, “China is introducing a national carbon emission trading system (ETS), with details yet to be finalized. The ETS is expected to cover only the major emitters but it is often argued that a more comprehensive system will achieve the emission goals at lower cost. We first examine an ETS that covers both electricity and cement sectors and consider an ambitious cap starting in 2017 that will meet the official objective to reduce the carbon-GDP intensity by 60-65% by 2030 compared to 2005 levels. The two ETS-covered industries are compensated with an output-based subsidy to represent the intention to give free permits to the covered enterprises. We then consider a hybrid system where the non-ETS sectors pay a carbon tax and share in the CO2 reduction burden. Our simulations indicate that hybrid systems will achieve the same CO2 goals with lower permit prices and GDP losses. We also show how auctioning of the permits improves the efficiency of the ETS and the hybrid systems. Finally, we find that these CO2 control policies are progressive in that higher incomes households bear a bigger burden.Link

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Harvard Professor Cass Sunstein explains how social change happens

Harvard Professor Cass Sunstein explains how social change happens. Cass Sunstein, April 14, 2019, Audio, “Brian talks to Cass Sunstein, the founder and director of the Program on Behavioral Economics and Public Policy at Harvard Law School. Sunstein served in the Obama administration as the Administrator of the White House Office of Information and Regulatory Affairs from 2009 to 2012. In his conversation with Brian, he discusses his new book, “How Change Happens,” which answers the question of how social change happens and how change is impacted by social norms.Link

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The IRS chief must release Trump’s tax returns — and Mnuchin must not stop him

The IRS chief must release Trump’s tax returns — and Mnuchin must not stop him. Lawrence Summers, April 8, 2019, Opinion, “The House Ways and Means Committee has requested access to six years of President Trump’s tax returns. Acting White House chief of staff Mick Mulvaney has vowed that there is no way Democrats will ever get to see the returns. Treasury Secretary Steven Mnuchin has indicated that he will comply with the law, but has not said what he thinks the law requires.Link

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Jesse Fried on Inequality, Stock Buybacks, and Misplaced Fears about Short-Termism in Corporate Governance

Jesse Fried on Inequality, Stock Buybacks, and Misplaced Fears about Short-Termism in Corporate Governance March 2019. GrowthPolicy’s Devjani Roy interviewed Jesse Fried, Dane Professor of Law at Harvard Law School, on inequality, stock buybacks, and misplaced fears about short-termism in corporate governance. | Click here for more interviews like this one. Links: Jesse Fried’s faculty […]

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Sovereign Difference and Sovereign Deference on the Internet

Sovereign Difference and Sovereign Deference on the Internet. Jack Goldsmith, March 18, 2019, Paper, “This Response to Andrew Woods makes two points. First, building on one of Woods’s claims, and drawing on the work of Milton Mueller, it shows why the “fragmentation” charge frequently levied against sovereignty-based approaches to internet governance is misplaced. Second, it raises questions about the efficacy of Woods’s normative theory of judicial comity.Link

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Unlocking digital competition, Report of the Digital Competition Expert Panel

Unlocking digital competition, Report of the Digital Competition Expert Panel. Jason Furman, March 2019, Paper, “This is the final report of the Digital Competition Expert Panel. Appointed by the Chancellor in 2018, and chaired by former Chief Economist to President Obama, Professor Jason Furman, the Panel makes recommendations for changes to the UK’s competition framework that are needed to face the economic challenges posed by digital markets, in the UK and internationally. Their report recommends updating the rules governing merger and antitrust enforcement, as well as proposing a bold set of pro-competition measures to open up digital markets.Link

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Transitioning to Long-Run Effective and Efficient Climate Policies

Transitioning to Long-Run Effective and Efficient Climate Policies. Robert Stavins, March 2019, Paper, “A combination of factors pose significant barriers to developing effective and efficient sets of policies to achieve long-run climate policy objectives. Political opposition to particular types of policy mechanisms (for example, GHG pricing) and the global, stock-pollutant nature of the climate problem are among the major factors posing practical policy challenges. Effective and efficient climate policy is needed in the long run to meaningfully address the climate problem, making the design of transitions to such long-run policies from the current portfolio of policies an important task for policymakers.Link

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The SEC’s Misguided Attack on Shareholder Arbitration

The SEC’s Misguided Attack on Shareholder Arbitration. Hal Scott, February 22, 2019, Opinion, “Jay Clayton, chairman of the Securities and Exchange Commission, announced earlier this month that the staff of his agency would allow Johnson & Johnson to block its shareholders from voting on an amendment to its own bylaws. I submitted that amendment as trustee of a trust that owns J&J shares.Link

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