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Environmental policies such as the European Union Emissions Trading System (EU ETS) raise concerns about their impact … on local employment and competitiveness. Yet, existing EU ETS studies focus on firm-level outcomes during the initial … of a significant policy change in Phase 3 of the EU ETS. Specifically, we investigate how the changes in the allocation …
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In this paper we estimate a Bayesian vector autoregressive model with factor stochastic volatility in the error term to assess the effects of an uncertainty shock in the Euro area. This allows us to treat macroeconomic uncertainty as a latent quantity during estimation. Only a limited number of...
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We assess a 2-period, non-cooperative equilibrium of an n country policy game where countries chose either (i) carbon taxes, (ii) cap-and-trade policy with local permit markets or (iii) cap-and-trade policy with internationally linked permit markets and potential central redistribution of permit...
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