We use historical industrial emissions data to assess the level of abatement and overallocation
that took place across European countries during the pilot phase (2005-2007)
of the European Union Emission Trading Scheme. ...
In this paper we study the optimal extraction of two fossil fuels when the economy
faces an announced constraint on CO2 emissions a la Kyoto. When high- and low-carbon
resources are perfect substitutes, announcement of ...
This paper is a first attempt to empirically measure transaction costs – a composite of administrative
costs and trading costs – of firms in the European Union's CO2 Emissions Trading Scheme (EU ETS)
during its trial ...
We analyze a multi-sector growth model with directed technical change where man-made capital and exhaustible resources are essential for production. The relative profitability of factor-specific innovations endogenously ...
The increase in carbon dioxide emissions by some countries in reaction to an emission reduction by countries with climate policy (carbon leakage) is seen as a serious threat to unilateral climate policy. Using a two-country ...
Using a stylized theoretical model, we argue that current economic analyses of climate policy tend to over-estimate the degree of carbon leakage, as they abstract from the effects of induced technological change. We analyse ...
We analyze a multi-sector growth model with directed technical change where man-made capital and exhaustible resources are essential for production. The relative profitability of factor-specific innovations endogenously ...