TY - JOUR A1 - Edenhofer, Ottmar A1 - Knopf, Brigitte A1 - Burghaus, Kerstin A1 - Flachsland, Christian A1 - Jakob, Michael A1 - Koch, Nicolas T1 - Shifting Paradigms in Carbon Pricing JF - Intereconomics N2 - Carbon pricing is essential to achieve a reduction in global CO2 emissions. A carbon price can either be set directly via a carbon tax (price control) or be achieved through a cap-and-trade system (quantity control). While there has been much debate about the relative merits of each approach, cap-and-trade systems have been favoured in the political arena. In principle, they offer the most straightforward way to achieve a country’s emission reduction target by simply setting the cap at the remaining emission budget. Existing emissions trading schemes (ETSs) can be found in Europe, California and Québec, for example. Y1 - 2018 UR - https://opus4.kobv.de/opus4-hsog/frontdoor/index/index/docId/2838 U6 - https://doi.org/10.1007/s10272-018-0735-6 VL - 53 IS - 3 SP - 135 EP - 140 ER -