Most real world emission permit schemes are in effect hybrid instruments that feature both quantity and price controls …. While the effects of price bounds are well understood for issues such as uncertain abatement costs it has not been … analyzes these issues for two types of innovation. While price bounds increase static efficiency they reduce incentives to …

the high-frequency EUA price dynamics are very well captured by a fractionally integrated asymmetric power GARCH process …

the first and the second conditional moments. To reveal long run price discovery we compute the common factor weights … futures market to be the leader of the long run price discovery process whereas a bidirectional short run causality structure …

models of confusion-induced price increases as these models can only account for a transitory effect. The persistence of the … increase suggests the existence of more than one price equilibrium. This multiplicity of price equilibria is a central part of …

analysiert werden. Die Theorie der Bestände stellt einen Baustein für die konzeptionellen Grundlagen der Ökologischen Ökonomie …

environmental issues, and giving a hint on some of its wider applications. We also show relationships to neoclassical growth theory. …