Newbery, David M. - In: Journal of the European Economic Association 6 (2008) 4, pp. 727-751
The European Emissions Trading Scheme (ETS) limits CO_2 emissions from covered sectors, especially electricity (accounting for about 56%). At EUR 44 billion per annum. the ETS is the largest emissions trading system ever, 40 times larger than US programmes. The article demonstrates that fixing...
