Sachzwänge im internationalen Klimaschutz: 1. Weltweit wirksame Begrenzung von Emissionen, 2. Nutzung der Ressource muss einen Preis haben, um Anreiz für sparsamen Umgang zu geben, 3. Pro-Kopf-Lösung (auch von Bundeskanzlerin Merkel gefordert), damit Indien und China mitmachen....

We demonstrate the advantages of a climate treaty based solely on rules for international permit markets when there is uncertainty about abatement costs and environmental damages. Such a ‘Rules Treaty’ comprises a scaling factor and a refunding rule. Each signatory can freely choose the...

We demonstrate the advantages of a climate treaty based solely on rules for international permit markets when there is uncertainty about abatement costs and environmental damages. Such a ‘Rules Treaty’ comprises a scaling factor and a refunding rule. Each signatory can freely choose the...

This paper examines the implications of alternative allowance allocation designs under a federal cap-and-trade program to reduce emissions of greenhouse gases. We focus on the impacts on industry profits and overall economic output, employing a dynamic general equilibrium model of the U.S....

Sachzwänge im internationalen Klimaschutz: 1. Weltweit wirksame Begrenzung von Emissionen, 2. Nutzung der Ressource muss einen Preis haben, um Anreiz für sparsamen Umgang zu geben, 3. Pro-Kopf-Lösung (auch von Bundeskanzlerin Merkel gefordert), damit Indien und China mitmachen....

In recent years, a significant problem with the carbon credit market has been the higher than initially predicted price volatility. It is essential to study the market in a repeated-period dynamic setting to identify the factors enabling high fluctuations in prices. In this paper, we examine the...

This paper examines the implications of alternative allowance allocation designs under a federal cap-and-trade program to reduce emissions of greenhouse gases. We focus on the impacts on industry profits and overall economic output, employing a dynamic general equilibrium model of the U.S....

The pursuit of money often clouds or derails even the best intentions. A recurring theme of great literature – the conflict between the pursuit of massive revenue and the best intentions, in this case to control climate change before a world crosses the tipping point of no return – is...