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The European Commission (2001a) has recently presented a directive proposal to the Parliament and the Council in order to implement a tradable permits scheme. However, as stressed by the positive political economy, due to the influence of various interest groups, very few environmental policies...
Persistent link: https://www.econbiz.de/10011335704
This essay reviews the implementation experience with three main applications of tradable permit systems: air pollution control, water supply and fisheries management. Opening with a brief summary of the theory behind these programs and both the economic and environmental consequences...
Persistent link: https://www.econbiz.de/10011335705
The Kyoto Protocol sets legally binding emission targets for industrialised countries without accounting for reductions carried out prior to 2008, the beginning of the first commitment period. There exists only one exception, the project-based Clean Development Mechanism where credits accrue...
Persistent link: https://www.econbiz.de/10011608512
The Kyoto Protocol is the first international environmental agreement that sets legally binding greenhouse gas emissions targets and timetables for Annex I countries. It incorporates emissions trading, joint implementation and the clean development mechanism. Because each of the Articles...
Persistent link: https://www.econbiz.de/10011608662
This paper investigates the implications of progressively broadening the scope of the market of tradable permits from no emissions trading to full global trading. We start with the no emissions trading case where each Annex I country must individually meet its Kyoto targets. Next, we consider a...
Persistent link: https://www.econbiz.de/10011608792
This paper considers the question under what conditions domestic markets of emission permits would and should merge to become an international market. Emission permits are licenses, and so governments would need to recognize other countries’ permits. In a two-county model, we find that it is...
Persistent link: https://www.econbiz.de/10010312662
A great challenge facing future agricultural water policy is to explore the potential for transition from the current myopic competitive (common) exploitation of groundwater resources to a long-term efficient and sustainable allocation. A number of economic and/or command and control instruments...
Persistent link: https://www.econbiz.de/10008934713
No international regime on climate change is going to be fully effective in controlling GHG emissions without the involvement of countries such as China, India, the United States, Australia, and possibly other developing countries. This highlights an unambiguous weakness of the Kyoto Protocol,...
Persistent link: https://www.econbiz.de/10012713459
This paper considers the question under what conditions domestic markets of emission permits would and should merge to become an international market. Emission permits are licenses, and so governments would need to recognize other countries' permits. In a two-county model, we find that it is in...
Persistent link: https://www.econbiz.de/10009743264
Most analyses of the Kyoto flexibility mechanisms focus on the cost effectiveness of where flexibility (e.g. by showing that mitigation costs are lower in a global permit market than in regional markets or in permit markets confined to Annex 1 countries). Less attention has been devoted to when...
Persistent link: https://www.econbiz.de/10013316607