In 2005, the EU introduced an emissions trading system in order to pursue its Kyoto obligations. This instrument gives emitters the flexibility to undertake reduction measures in the most cost-efficient way and mobilizes market forces for the protection of the earth?s climate. In this paper, we...

Energy is an important commodity in many economic activities. Its usage affects the environment via CO2 emissions and the Greenhouse Effect. Modeling the energy-economyenvironment-trade linkages is an important objective in applied economic policy analysis. Previously, however, the modeling of...

Methane is a major anthropogenic greenhouse gas, second only to carbon dioxide (CO2) in its impact on climate change. Methane (CH4) has a high global warming potential that is 25 times as large as the one of CO2 on a 100 year time horizon according to the latest IPCC report. Thus, CH4...