Antoniou, Fabio; Hatzipanayotou, Panos; Koundouri, Phoebe - Department of Land Economy, University of Cambridge - 2010
-appears regardless of whether permits are tradable or not. With tradable permits, however, the incentive to under-regulate pollution is … comparatively weaker relative to the case of non-tradable permits. This entails potential benefits for the exporting firms and …