@article{EdenhoferKnopfBurghausetal., author = {Edenhofer, Ottmar and Knopf, Brigitte and Burghaus, Kerstin and Flachsland, Christian and Jakob, Michael and Koch, Nicolas}, title = {Shifting Paradigms in Carbon Pricing}, series = {Intereconomics}, volume = {53}, journal = {Intereconomics}, number = {3}, doi = {10.1007/s10272-018-0735-6}, pages = {135 -- 140}, abstract = {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 Qu{\´e}bec, for example.}, language = {en} }