Similar Search Results

Relative Quotas: Correct Answer to Uncertainty or Case of Regulatory Capture

Quirion, Philippe - Fondazione ENI Enrico Mattei (FEEM) - 2003

There is a tendency among policy-makers and industry lobbyists toward "specific", "relative" or "output-based" quotas, i.e., freely distributed to firms proportionally to their output. With a stochastic analytical model, we demonstrate that relative quotas are dominated either by absolute quotas...

Persistent link: https://www.econbiz.de/10005423153

The Effect of Allowance Allocations on Cap-and-Trade System Performance

Hahn, Robert W.; Stavins, Robert N. - Fondazione ENI Enrico Mattei (FEEM) - 2010

We examine an implication of the “Coase Theorem” which has had an important impact both on environmental economics and on public policy in the environmental domain. Under certain conditions, the market equilibrium in a cap-and-trade system will be cost-effective and independent of the...

Persistent link: https://www.econbiz.de/10008465529

Tradable Permits vs Ecological Dumping

Hatzipanayotou, Panos; Antoniou, Fabio; Koundouri, Phoebe - Fondazione ENI Enrico Mattei (FEEM) - 2010

In this paper we examine an alternative policy scenario, where governments allow polluting firms to trade permits in a strategic environmental policy model. We demonstrate, among other things, that with no market power in the permits market, governments of the exporting firms do not have an...

Persistent link: https://www.econbiz.de/10008489587

Linkage of Tradable Permit Systems in International Climate Policy Architecture

Stavins, Robert N.; Jaffe, Judson - Fondazione ENI Enrico Mattei (FEEM) - 2008

Cap-and-trade systems have emerged as the preferred national and regional instrument for reducing emissions of greenhouse gases throughout the industrialized world, and the Clean Development Mechanism — an international emission-reduction-credit system — has developed a substantial...

Persistent link: https://www.econbiz.de/10005423269

Valuing Tradable CO2 Permits for OECD Countries

Karp, Larry; Liu, Xuemei - Fondazione ENI Enrico Mattei (FEEM) - 1999

We estimate a structural model of OECD countries in which GDP and CO2 emissions are endogenous. We use the estimated model to simulate the price of tradable CO2 permits and the efficiency gains from trade. Our estimated prices are high, relative to previous estimates, and the efficiency gains...

Persistent link: https://www.econbiz.de/10005230830

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

The European Emissions Trading System (EU ETS): Ex-Post Analysis, the Market Stability Reserve and Options for a Comprehensive Reform

Knopf, Brigitte; Koch, Nicolas; Grosjean, Godefroy; … - Fondazione ENI Enrico Mattei (FEEM) - 2014

political factors and regulatory uncertainty have played a key role in the price decline. As a consequence, any reform of the EU … ETS has to deliver a mechanism that reduces such uncertainty and stabilizes expectations of market participants. The … Market Stability Reserve proposed by the EU Commission is unlikely to address the current problem of price uncertainty and …

Persistent link: https://www.econbiz.de/10010941061

Price Floors for Emissions Trading

Wood, Peter John; Jotzo, Frank - Fondazione ENI Enrico Mattei (FEEM) - 2009

volatility, and management of cost uncertainty, but implementation has potential pitfalls. We argue that the best mechanism for …

Persistent link: https://www.econbiz.de/10008489601

Efficiency, Productivity and Environmental Policy: A Case Study of Power Generation in the EU

Jaraite, Jurate; Maria, Corrado Di - Fondazione ENI Enrico Mattei (FEEM) - 2011

This study uses the EU public power generating sector as a case study to investigate the environmental efficiency and productivity enhancing performance of the European Union’s CO2 Emissions Trading Scheme (EU ETS) in its pilot phase. Using Data Envelopment Analysis methods, we measure the...

Persistent link: https://www.econbiz.de/10009002698

Flexibility in the Market for International Carbon Credits and Price. Dynamics Difference with European Allowances

Gavard, Claire; Kirat, Djamel - Fondazione ENI Enrico Mattei (FEEM) - 2015

We analyze the price dynamics of European allowances and international carbon credits in the second phase of the European carbon market. We develop and use a model combining fundamental drivers associated with the demand for quotas by installations and risk-return considerations related to the...

Persistent link: https://www.econbiz.de/10011162048