Sawhney, Aparna; Mitra, Susmita - In: Economics Bulletin 31 (2011) 2, pp. 1265-1274
Our model examines how co-existence of market power and noncompliance affects the efficiency and effectiveness of a cap-and-trade system with banking-borrowing in a finite period model. The dynamic equilibrium analysis here extends the results of the established literature, and we show that the...