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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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This paper considers the question of under what circumstances a new environmental regulation should "phase in" gradually over time, rather than being immediately implemented at full force. The paper focuses particularly on climate policy, though its insights are more general. It shows that while...
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