emissions or output can improve the efficiency of the scheme by acting as a production subsidy. Using the U.S. NOx Budget …

We present a two-good, two-country overlapping generations model where emissions arise from production and each country … has a domestic emission permit system. When one country unilaterally reduces her cap on emissions, her output available …

policies instead involve sequestration, afforestation, stabilization of property rights and emissions trading. Among the public …

instruments: pollution taxes, pollution permits and Kyoto-like numerical rules for emissions. The setup is the basic stochastic …

Tradable black (CO2) and green (renewables) quotas gain in popularity and stringency within climate policies of many … market, we show that a green quota imposed on top of a black quota does not only induce substantial excess cost but serves …

make stabilization of green house gas concentrations economically feasible. The government may announce current and future …

2006) the number of signatories of self-enforcing IEAs does not exceed three, if non-positive emissions are ruled out. We … traded on world markets. When signatory countries act as Stackelberg leader and emissions are positive, the size of stable …-enforcing IEAs would lead to stronger reductions of total emissions. Unfortunately, in the presence of self-enforcing IEAs total …