Cap-and-trade versus carbon taxes: which market mechanism gets the most attention?

Abstract

In the debate between carbon taxes and cap-and-trade as a policy response to curbing greenhouse gas emissions, which market-based policy tool tends to garner the most (favorable) media attention? Furthermore, what is the public coverage like of topics such as trade, energy prices, and economic growth and green jobs? Understanding the media’s response to market-based policy mechanisms is important for understanding their ultimate acceptance, or rejection, beyond the academic sphere. One interesting result from this research is that cap-and-trade wins hands down over carbon taxes—it received more, and more positive, media attention in the US in the 22-year time period under study.