Economic Effect of Cap-and-Trade on Europe is "Imperceptible"

A. Danny Ellerman and Paul L. Joskow. Found by Scientific Blogging. May 11, 2008.

 This Massachusetts Institute of Technology (MIT) study,  “European Union ‘Cap and Trade’ Program For Carbon Dioxide Working Well, Says MIT Analysis” looks at the first successfully implemented carbon cap and trade system and the first multinational effort to regulate the emissions responsible for global warming. The authors also note that the program had little, if any, negative affect on the European Union’s economy. In the words of the scholars the “Economic impact is imperceptible” and “the European economy has not been ‘wrecked’”.