Showing 1 - 10 of 4,654
This paper proposes and analyzes a stationary equilibrium model for a competitive industry which endogenously determines the carbon price necessary to achieve a given emission target. In the model, firms are identified by their level of technology and make production, entry, and abatement...
Persistent link: https://www.econbiz.de/10014494914
The Chinese stock market features an interesting history of divided market segments: domestic (A), foreigners' (B) and overseas (H). This puts forth questions of market integration as well as cross-divisional information transmission. We address these issues in a structural DCC framework, an...
Persistent link: https://www.econbiz.de/10010263757
We develop and discuss the three pathways to European Greenhouse Gas Emissions Trading: a top-down scheme based on the Kyoto Protocol of the UNFCCC, a bottom-up scheme linking national trading systems of EU Member States, and an EU-wide regional scheme based on the founding principles of the...
Persistent link: https://www.econbiz.de/10011335756
In 2005, an EU-wide emissions trading scheme covering major CO2 producing sites shall come into power. The key objective of the trading scheme is to promote cost-efficiency of carbon reduction within the EU. We identify policy-relevant tradeoffs between overall efficiency, compensation and...
Persistent link: https://www.econbiz.de/10011422110
An integrated assessment model is used to simulate the introduction of various emissions trading schemes based on the Kyoto protocol on the reduction of greenhouse emissions. The implications of the various systems in terms of income distribution are illustrated, and it is claimed that the issue...
Persistent link: https://www.econbiz.de/10011608521
Persistent link: https://www.econbiz.de/10011435100
After the climate conferences in Copenhagen and Cancun, it is likely that the EU remains more ambitious regarding greenhouse gas reduction targets than other countries. The possible problem of carbon leakage and instruments to tackle it therefore remains an important issue in the European...
Persistent link: https://www.econbiz.de/10011435341
Vorgaben allein wohl kaum erreichen lassen - dazu sind die politischen Widerstände in Ländern wie den USA oder China zu groß … Einbußen. China will einem Klimaabkommen allenfalls dann beitreten, wenn sich zuvor die USA zu einem solchen Schritt … Emissionsländer - auch die USA und China - einschließt, lässt sich wohl nur erreichen, wenn neben festen Vorgaben zur Reduktion der …
Persistent link: https://www.econbiz.de/10011601776
This paper develops a theory of medium term share price movements under slow adjustment in the labour market relative to the share market and perfect foresight in the share market. The model seeks to explain the slow movements in real share prices that have been observed in the OECD countries...
Persistent link: https://www.econbiz.de/10010320932
This paper formally proves that Rigobon and Sack (2004)'s approach of identifying monetary policy shocks through heteroscedasticity can be extended to a multimarket and multicountry framework. Applying our multivariate framework allows deriving consistent estimators of monetary policy effects....
Persistent link: https://www.econbiz.de/10010286345