TY - BOOK ID - 136983520 TI - Carbon Taxes or Emissions Trading Systems? : Instrument Choice and Design AU - Parry, Ian. AU - Black, Simon AU - Zhunussova, Karlygash. PY - 2022 SN - 9798400211041 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Emissions trading. KW - Carbon tax KW - Climate change KW - Climate KW - Climatic changes KW - Currency crises KW - Economic & financial crises & disasters KW - Economic sectors KW - Economics of specific sectors KW - Economics KW - Economics: General KW - Emissions trading KW - Energy: Government Policy KW - Environment KW - Environmental Conservation and Protection KW - Environmental Economics KW - Environmental economics KW - Environmental Economics: General KW - Environmental impact charges KW - Environmental sciences KW - Environmental Taxes and Subsidies KW - Exports and Imports KW - Financial crises KW - Foreign Exchange KW - Global Warming KW - Greenhouse gas emissions KW - Greenhouse gases KW - Hydrocarbon Resources KW - Informal Economy KW - Informal sector KW - International economics KW - International Trade Organizations KW - Macroeconomics KW - Natural Disasters and Their Management KW - Nonrenewable Resources and Conservation: Demand and Supply KW - Nonrenewable Resources and Conservation: Government Policy KW - Public finance & taxation KW - Redistributive Effects KW - Taxation and Subsidies: Externalities KW - Taxation KW - Taxes KW - Trade Policy KW - Underground Econom KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:136983520 AB - Carbon pricing should be a central element of climate mitigation strategies, helping countries transition to ‘net zero’ greenhouse gas emissions over the next three decades. Policymakers considering introducing or scaling up carbon pricing face technical choices between carbon taxes and emissions trading systems (ETSs) and in their design. This includes administration, price levels, relation to other mitigation instruments, use of revenues to address efficiency and distributional objectives, supporting measures to address competitiveness concerns, extension to broader emissions sources, and coordination at the global level. Political economy considerations also affect the choice and design of instruments. This paper discusses such issues in the choice between and design of carbon taxes and ETSs, providing guidance, broader considerations, and quantitative analyses. Overall, carbon taxes have significant practical advantages over ETSs (especially for developing countries) due to ease of administration, price certainty to promote investment, the potential to raise significant revenues, and coverage of broader emissions sources—but ETSs can have significant political economy advantages. ER -