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of a regulated market for pollution rights (the EU emissions trading scheme) and a voluntary market for the provision of … design considerations take precedence. Both markets also face challenges: volatile prices in the EU emissions scheme and low …
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This chapter applies recent research on environmental enforcement to a potential U.S. program to control greenhouse gases, especially through emission trading. Climate policies present the novel problem of integrating emissions reductions that are relatively easy to monitor (such as carbon...
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