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Adopt or Innovate : Understanding Technological Responses to Cap-and-Trade
Calel, Raphael - 2018
Environmental regulations have consistently been found to spur innovation in ‘clean' technologies, with one significant … effect on innovation. Several explanations have been offered, including secondary market failures and a lack of polluter …, contrary to past experience, encouraged innovation rather than adoption. I discuss how these contrasting findings can be …
Persistent link: https://www.econbiz.de/10012925254
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Incentive Regulation, Investments and Technological Change
Vogelsang, Ingo - 2021
commitment for the whole time horizon of infrastructure or innovation investments is impossible. The compatibility of incentive …
Persistent link: https://www.econbiz.de/10013316240
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Do Permit Allocations Matter?
Verbon, Harrie A. A. - 2010
In the standard setting a system of tradable permits is effective and cost-efficient in attaining the policy objective of pollution reduction. This outcome is challenged in case of a tradable permit system in a federal system/constitution with individual states having discretionary power...
Persistent link: https://www.econbiz.de/10013136241
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Market Power in Emission Permit Markets : Theory and Evidence
Hintermann, Beat - 2013
A well-known result about market power in emission permit markets is that efficiency can be achieved by full free allocation to the dominant firm. I show that this result breaks down when taking the interaction between input and output markets into account, even if the firm perceives market...
Persistent link: https://www.econbiz.de/10013073090
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Using Output-Based Allocations to Manage Volatility and Leakage in Pollution Markets
Meunier, Guy - 2017
Output-based allocations (OBAs) are typically used in emission trading schemes to mitigate leakage in sectors at risk. Recent work has shown they may also help to stabilize prices in markets subject to supply and demand shocks. We extend previous work to simultaneously include both leakage and...
Persistent link: https://www.econbiz.de/10012961946
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Multi-Pollutant Point-Nonpoint Trading with Participation Decisions : The Role of Transaction Costs
Reeling, Carson - 2018
High transaction costs and thin participation plague water quality trading and prevent markets from delivering expected efficiency gains. Point sources generate a single pollutant, while nonpoint sources generate multiple, complementary pollutants. We develop a dynamic search model of...
Persistent link: https://www.econbiz.de/10012911045
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Monetary Emissions Trading Mechanisms
Monnet, Cyril - 2014
Emissions trading mechanisms have been proposed, and in some cases implemented, as a tool to reduce pollution. We explore the similarities between emission-trading mechanisms and monetary mechanisms. Both attempt to implement desirable allocations under various frictions, including risk and...
Persistent link: https://www.econbiz.de/10013057655
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Emissions Trading with Offset Markets and Free Quota Allocations
Rosendahl, Knut Einar - 2014
We study optimal climate policy for a "policy bloc" of countries facing a market where emissions offsets can be purchased from a non-policy “fringe” of countries (such as for the CDM). Policy-bloc firms benefit from free quota allocations whose quantity is updated according to firms' past...
Persistent link: https://www.econbiz.de/10013059018
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Mitigating Carbon Leakage : Combining Output-Based Rebating with a Consumption Tax
Boehringer, Christoph - 2015
Unilateral climate policy induces carbon leakage through the relocation of emission-intensive and trade-exposed industries to regions with no or more lenient emission regulation. Both analytical and numerical studies suggest that emission pricing combined with border carbon adjustments may be a...
Persistent link: https://www.econbiz.de/10013018203
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The European Union Emissions Trading System and the Market Stability Reserve : Optimal Dynamic Supply Adjustment
Kollenberg, Sascha - 2015
The supply of allowances in the European Union Emissions Trading System is determined within a rigid allocation programme. A reform of the EU ETS intends to make allowances allocation flexible and contingent on the state of the system. We model the emissions market under adjustable allowance...
Persistent link: https://www.econbiz.de/10013021413