A whole bundle of so-called "flexible mechanisms" has been foreseen by the Kyoto Protocol in order to help industrial countries to fulfil their agreed reduction targets in the most costeffective way. Emission permits will act as the backbone of all market-orientated mechanisms. Therefore, their...

The objective of this paper is to present different equity rules that can be applied to the initial allocation of greenhouse gas entitlements and to analyse the potential impacts of these rules EU-wide as well as on the level of member states. The methodological framework used in the empirical...

Two main approaches have been implemented in regional CO2 markets to address competitiveness and carbon leakage: output based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best policy, given that auctioning with border adjustment...

Es wird aufgezeigt, wie sich der umweltpolitische Lenkungsmechanismus einer Kohlendioxydabgabe in effezienter Weise auf eine Reihe weiterer Treibhausgase ausdehnen läßt (Methan, Distickstoffoxyd, Fluorchlorkohlenwasserstoffe). Mit Hilfe eines Optimierungsmodells werden die theoretischen...

This paper deconstructs the relationship between harm and pollution, and argues that understanding this relationship creates valuable opportunities for improving environmental policy by minimizing or even eliminating the harm from some pollutants, even when reducing the total amount of pollution...