Many countries are part of multiple international air-pollution agreements that interact with each other given that a single source of emissions is typically composed of several pollutants. This paper studies the effect on carbon dioxide emissions of the various agreements that follow the...

In a two-period general equilibrium model, I study the effects of intertemporal emission permit trading in a cap-and-trade scheme when firms' investments in abatement have long-term effects. To meet their caps, firms optimally choose levels of trading and investment in each period by equalizing...

I study the effects of intertemporal emission permits trading in a cap-and-trade scheme when firms' abatement investments have long-term effects. In a two-period general equilibrium model, firms make trading and investment decisions in each period to meet their caps. I compare equilibrium...