This paper tests how a major cap-and-trade program, known as the NOx Budget Trading Program (NBP), impacted labor … markets in the regions where it was implemented. The cap-and-trade program dramatically decreased levels of NOx emissions and …

-thy-neighbor policy to exploit terms of trade. Using an optimal tax framework, we propose a method to decompose the leakage motive and the … terms-of-trade motive for emission price differentiation. We illustrate our method with a quantitative impact assessment of …

The allocation of emissions allowances is among the most contentious elements of the design of cap-and-trade systems …

A perceived advantage of cap-and-trade programs over more prescriptive environmental regulation is that enhanced …

Cap-and-trade systems have emerged as the preferred national and regional instrument for reducing emissions of … tradable permit systems can reduce compliance costs and improve market liquidity, there is great interest in linking cap-and-trade …

This paper discusses both the potential contribution that trade policy initiatives can make towards the achievement of … motivated geographical trade arrangements, including carbon free trade areas. We first suggest that trade policy is likely to be … next several decades will be growth more so than trade and its composition, and in turn, the size of trade seemingly …