The article investigates the development of carbon prices in Europe from 2005 to 2009 and its drivers, before providing the essential precepts for the Copenhagen negotiations. The experience of the European carbon market will highlight negotiations on a major issue: the carbon pricing....

Twenty-five papers survey and illustrate approaches to and applications of contract economics. Earlier versions of most of the papers were published in special issue no. 92 of the Revue d'Economie Industrielle entitled "The Economics of Contracts in Prospect and Retrospect" (2000). Papers...

Usually partial equilibrium models used for pricing financial derivatives rely on price equilibrium dynamics which doesn’t explicitly take the trade size into account. However any price is implicitly based on the balance between supply and demand to the extent that the exchanged quantity...

This chapter identifies the main price drivers of European Union Allowances (EUAs), valid for compliance under the European Union Emissions Trading Scheme (EU ETS) created in 2005 to regulate CO2 emissions of more than 10,000 high carbon-intensive installations across Member States. Based on key...

We embed an incomplete contracts setting into a model of economic geography with heterogeneous firms whose process of production can be geographically separated. Because of the presence of international incomplete contracts, trade liberalization is not necessarily welfare-enhancing. We show that...