what economists tell us, demand, supply and equilibrium do not carry over to the actual world: they cannot be empirically … subject is the basic toolbox of mainstream economics. The most important tools in this box are demand, supply and equilibrium …

implementation; moreover, the incentive to increase supply would be stronger for owners of high-sulfur coal. This would, all else … imperfectly implemented policies may lead to detrimental environmental outcomes due to supply side responses. We use the … introduction of the Acid Rain Program in the U.S. as a case study. The theory predicts that owners of coal deposits, expecting …

marginal costs of steam coal supply in Europe. Increasing Chinese demand for steam coal will lead to a growing need for … steam coal imports. Increased Chinese imports could significantly influence global trade market price levels which would … global steam coal market. For our assumption regarding production and transport cost evolutions, we rely on an input factor …