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Pricing carbon in the U.S.: A model-based analysis of power sector only approaches / Warwick J. McKibbin, Adele Morris, Peter J. Wilcoxen. Brookings Institution, 20 April 2012, 39 p. (Climate and energy economics discussion paper)http://www.brookings.edu/~/media/Files/rc/papers/2012/04_pricing_carbon_morris/04_pricing_carbon_morris.pdfExecutive SummaryIn June 2010, as the prospects in the U.S. Senate for an economy-wide cap-and-trade bill dimmed, some proponents of climate policy began to push for a more limited-scope approach. One proposed way to limit the scope of the bill was to apply the cap-and-trade program only to the carbon dioxide (CO2) emissions from electricity generation. This paper uses an intertemporal computable general equilibrium (CGE) model of the world economy called G-Cubed to compare a power-sector-only climate policy with economy-wide measures that either place the same price on carbon or achieve the same cumulative emissions reduction as the program limited to the power sector... more