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What Should We Expect from Innovation? A Model-Based Assessment of the Environmental and Mitigation Cost Implications of Climate-Related R&D
Bosetti, Valentina; Carraro, Carlo; Duval, Romain; … - Fondazione ENI Enrico Mattei (FEEM) - 2010
This paper addresses two basic issues related to technological innovation and climate stabilisation objectives: i) Can innovation policies be effective in stabilising greenhouse gas concentrations? ii) To what extent can innovation policies complement carbon pricing (taxes or permit trading) and...
Persistent link: https://www.econbiz.de/10008467309
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Uncertain R&D, Backstop Technology and GHGs Stabilization
Bosetti, Valentina; Tavoni, Massimo - Fondazione ENI Enrico Mattei (FEEM) - 2007
This paper analyses optimal investments in innovation when dealing with a stringent climate target and with the uncertain effectiveness of R&D. The innovation needed to achieve the deep cut in emissions is modelled by a backstop carbon-free technology whose cost depends on R&D investments. To...
Persistent link: https://www.econbiz.de/10005423131
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The Timing of National Greenhouse Gas Emission Reductions in the Presence of Other Environmental Policies
Dellink, Rob B.; Hofkes, Marjan W. - Fondazione ENI Enrico Mattei (FEEM) - 2006
This paper shows in an empirical context that substantial cost reductions can be achieved in the implementation of Dutch national climate policy by (i) targeting the policy at the stock of greenhouse gases, thus allowing polluters flexibility in their timing of emission reductions; and (ii)...
Persistent link: https://www.econbiz.de/10005423170
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Can Climate Change Mitigation Policy Benefit the Israeli Economy? A Computable General Equilibrium Analysis
Palatnik, Ruslana; Shechter, Mordechai - Fondazione ENI Enrico Mattei (FEEM) - 2008
The growing attention to global warming due to greenhouse gas (GHG) emissions in the process of fossil fuel--based energy production is expressed in the Kyoto Protocol, which prescribes, on average, a 7 percent reduction in GHG emissions for developed countries. Although Israel was not included...
Persistent link: https://www.econbiz.de/10005230922
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Strategic Behavior and Underpricing in Uniform Price Auctions
Keloharju, Matti; Nyborg, Kjell G.; Rydqvist, Kristian - Fondazione ENI Enrico Mattei (FEEM) - 2003
auctions during the period 1992-99. Average underpricing amounts to .041% of face value. Theory suggests that underpricing may … result from monopsonistic market power. We develop and test robust implications from this theory and ¯nd that it has little … predicted by the theory. We also present evidence that the Finnish Treasury acts strategically, taking into account the fact …
Persistent link: https://www.econbiz.de/10005385450
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Multiple Unit Auctions and Short Squeezes
Nyborg, Kjell G.; Strebulaev, Ilya A. - Fondazione ENI Enrico Mattei (FEEM) - 2003
This paper develops a theory of multiple unit auctions with short squeezes in the post- auction market. This is …
Persistent link: https://www.econbiz.de/10005385493
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Auctioning vs. Grandfathering in Cap-and-Trade Systems with Market Power and Incomplete Information
Alvarez, Francisco; André, Francisco J. - Fondazione ENI Enrico Mattei (FEEM) - 2013
We compare auctioning and grandfathering as allocation mechanisms of emission permits when there is a secondary market with market power and the firms have private information. Based on real-life cases such as the EU ETS, we consider a multi-unit, multi-bid uniform auction, modelled as a...
Persistent link: https://www.econbiz.de/10010833916
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Incentives for Price Manipulation in Emission Permit Markets with Stackelberg Competition
André, Francisco J.; Castro, Luis M. de - Fondazione ENI Enrico Mattei (FEEM) - 2015
It has been shown in prior research that cost effectiveness in the competitive emissions permit market could be affected by tacit collusion or price manipulation when the corresponding polluting product market is oligopolistic. We analyze these cross market links using a Stackelberg model to...
Persistent link: https://www.econbiz.de/10011162046
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“Spot, Bilateral and Futures Trading in Electricity Markets. Implications for Stability”
Termini, Valeria; Cavallo, Laura - Fondazione ENI Enrico Mattei (FEEM) - 2007
The design of wholesale electricity markets in the transition towards liberalization presents significant differences from country to country. Some spot markets have imposed the concentration of transactions to ensure market liquidity. Other markets are based on bilateral trading. The debate...
Persistent link: https://www.econbiz.de/10005570273
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ETS and Technological Innovation: A Random Matching Model
Antoci, Angelo; Borghesi, Simone; Sodini, Mauro - Fondazione ENI Enrico Mattei (FEEM) - 2012
The present paper investigates the functioning of an Emission Trading System (ETS) and its impact on the diffusion of environmental-friendly technological innovation in the presence of firms’ strategic behaviours and sanctions to non-compliant firms. For this purpose, we study an evolutionary...
Persistent link: https://www.econbiz.de/10010904915