Initiative (RGGI) to achieve its State Energy Plan targets. The proposed measure is a so-called "carbon adder" on CO2 emissions … to small reductions in region- and country-wide emissions levels. …

Implementation of an EU-wide emissions trading system by means of National Allocation Plans is at the core of European … Burden Sharing Agreement between energy-intensive sectors that are eligible for international emissions trading and the … EU emissions trading system and the gains for each Member State vis-a-vis domestic abatement policies. We present an …

This paper provides an empirical test of the Coase Theorem. I analyze whether emissions are independent from allowance … allocations in the electricity sector regulated under the EU's Emissions Trading System (EU ETS). Exogenous variation in levels of … change in allocation levels does not significantly affect emissions, either at the plant or firm level. However, I identify …

Policies aimed at reducing emissions from fossil fuels may increase climate damages. This "Green Paradox" emerges if …

We study optimal climate policy for a "policy bloc" of countries facing a market where emissions offsets can be … whose quantity is updated according to firms' past emissions, or their outputs. We show that the resulting abatement and its … price below marginal damage cost of emissions, while the policy-bloc quota price will be above this cost. With maximization …

The economic prescription for climate change is clear: price carbon dioxide (CO2) and other greenhouse gas emissions to … equal to the full social cost of emissions. This paper develops insights about the design of climate policy in the face of …

climate policy in the presence of leakage. We ignore the welfare gain from reducing greenhouse gas emissions and focus on the … welfare cost of the emissions tax or permit scheme. Whereas that prior paper solves for changes in emissions quantities and …