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returns to scale and imperfect competition in the cement industry and compare it with an Armington-style model. I apply the … underestimate relocation of the cement industry. The higher relocation of production and emissions comes with larger trade effects …, and this implies that trade in cement is a better substitute for trade in emissions in the alternative model …
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Recently, several articles rely on marginal abatement cost (MAC) curves to analyze the EU ETS. While the assumptions on MAC curves drive the results, the prevailing literature on the EU ETS does not take the shape of MAC curves into account. This paper discusses the implications of MAC curve...
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The latest reform of European Union Emission Trading System (EU ETS) enables overlapping policies, such as national coal phase-outs, to affect total emissions. For evaluatingoverlapping policies, this paper applies a detailed partial equilibrium model of the EU ETS.Under perfect foresight,...
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