The objective of this paper is to quantify the economic effects of the introduction of a system of tradable permits in the European Union (EU). For this purpose we use linked applied general equilibrium models (AGE) for eleven EU member countries. This method enables us to measure the change in...

The objective of this paper is to present different equity rules that can be applied to the initial allocation of greenhouse gas entitlements and to analyse the potential impacts of these rules EU-wide as well as on the level of member states. The methodological framework used in the empirical...