Linking permit markets multilaterally
نویسندگان
چکیده
منابع مشابه
Managing Permit Markets to Stabilize Prices
The political economy of environmental policy favors the use of quantity-based instruments over price-based instruments (e.g., tradable permits over green taxes), at least in the United States. With cost uncertainty, however, there are clear efficiency advantages to prices in cases where the marginal damages of emissions are relatively flat, such as with greenhouse gases. The question arises, t...
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Tradable permits are celebrated as a political instrument since they allow (i) firms to equalize marginal abatement costs through trade and (ii) the government to distribute the burden of the policy in a politically fair and feasible way. These two concerns, however, conflict in a dynamic setting. Anticipating that high-cost firms will receive more permits in the future, firms purchase excessiv...
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ژورنال
عنوان ژورنال: Journal of Environmental Economics and Management
سال: 2019
ISSN: 0095-0696
DOI: 10.1016/j.jeem.2019.102259