In this paper, we explore the effects of dynamic uncertainty on the risk management of regulated industries and … emission market. We consider as major sources of uncertainty the stochastic growth of demand for the industry output (e … behavior of the regulator. These sources of uncertainty are common in pollution permit trading as not only does the market …

because of regulatory uncertainty. In fact, uncertainty about political decision changes in the permits program could make … suggest that the banking provisions may be used as a tool of policy risk control and that it is possible to define optimal … theoretical results concerning firms' banking and pooling behaviors in the context of the recent development of the European Union …