Hatzipanayotou, Panos; Antoniou, Fabio; Koundouri, Phoebe - Fondazione ENI Enrico Mattei (FEEM) - 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 …