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...

Illinois is faced with seemingly insurmountable fiscal problems. Public pensions are still not out of the woods. Bills aren’t getting paid on time. The state’s credit rating is in the dungeon. Ideas for curing the state’s fiscal illness are many, and nearly every one of them predictably...

With Japan’s emphasis on domestic demand and the gradual expansion of interregional trade, indirect carbon dioxide (CO2) emissions have become an important factor limiting Japan’s realization of carbon neutrality in 2050. In this study, using regional trade data, input-output analysis was...

Since the third phase of the European Emission Trading system, sectors that are classified as carbon leakage risky receive all allowances for free up to a specific benchmark. In contrast, sectors that are not classified as being at risk, face an increasing share of allowances that are needed to...

Cap-and-trade systems have emerged as the preferred national and regional instrument for reducing emissions of greenhouse gases throughout the industrialized world, and the Clean Development Mechanism -- an international emission-reduction-credit system -- has developed a substantial...