The United Kingdom's Emissions Trading Scheme has its roots in the European Union Emissions Trading Scheme and these are both hinged on the effectiveness of the “cap and trade system”.The system and the scheme have had their criticisms, especially with regard to their capacity to actually...

Carbon taxes are commonly seen as a rational policy response to climate change, but little is known about their performance from an ex-post perspective. This paper analyzes the emissions and cost impacts of the UK CPS, a carbon tax levied on all fossil-fired power plants. To overcome the problem...

We use recent developments in the empirics of comparative case studies to analyze the effect of binding emission targets under the Kyoto Protocol on the development of CO2 emissions of seven major Annex B countries. In particular, we investigate whether committing to a specific greenhouse gas...