Combining rate-based and cap-and-trade emissions policies

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Carbon markets 15 years after Kyoto: Lessons learned, new challenges (2013, background): “For example, Fischer (2003) shows that linking a system that is indexed to output with an ordinary capped system almost always increases emissions.”
International technology-oriented agreements to address climate change (2008, background): “Moreover, performance standards can have lesser effects on competitiveness: although the standards may raise product costs, emissions prices also would impose the cost of the embodied emissions, further raising marginal production costs (Bernard et al., forthcoming; Fischer and Fox, forthcoming; Fis”
Decentralization in the EU Emissions Trading Scheme and Lessons for Global Policy (2007, background): “As Fischer (2003) points out, if output in country A is affected by the linking of the systems, this will (by definition) affect the aggregate cap level.”
Emissions targets and the real business cycle: Intensity targets versus caps or taxes (2011, unknown): “5 These results echo those in static models, such as Fischer [31] and Fischer and Fox [11].”
Output-Based Allocation of Emissions Permits for Mitigating Tax and Trade Interactions (2007, unknown): “OBA, by6 See Fischer (2003). weakening conservation incentives, raises the costs of achieving an emissions target, and in a multi-sector permit market, the overall efficiency loss depends on the distribution of the sector allotments and the effective subsidies.”