The role of the United States in international negotiations, including Kyoto, has always been central as an economic and a political power and also as a polluter. In the absence so far of federal regulation, different states were very dynamic. Since the election of President Obama, energy and...

The main thrust of the paper is the design and the numerical analysis of new cap- and-trade schemes for the control and the reduction of atmospheric pollution. The tools developed are intended to help policy makers and regulators understand the pros and the cons of the emissions markets. We...

We adapt the classical Schaefer model of fisheries management to take into account intergenerational equity, in the line of Sumaila ([18]) and Sumaila and Walters ([19]). The resulting discount rate then is non-constant, and the planner’s preferences are time inconsistent, so that optimal...

The present thesis focuses on the definition of potential Clean Development Mechanism (CDM) (or other successor mechanism) financial flows at the horizon of 2020 and 2050 and on their impact on recipient countries’ economies. The analysis is completed by an overview of the current CDM...

This article investigates the presence of outliers in the volatility of carbon prices. We compute three different measures of volatility for European Union Allowances, based on daily data (EGARCH model), option prices (implied volatility), and intraday data (realized volatility). Based on the...