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Terminating links between emission trading programs

delete2015-05-01
delete17
PRE
AI
W
William A. Pizer
A
Andrew J. Yates
DOI:10.1016/j.jeem.2015.03.003delete
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摘要

摘要

En 中文
Links between emission trading programs are not immutable, as highlighted by New Jersey's exit from the Regional Greenhouse Gas Initiative in 2011. This raises the question of what to do with existing permits that are banked for future use-choices that have consequences for market behavior in advance of, or upon speculation about, delinking. We consider two delinking policies. One differentiates banked permits by origin, the other treats banked permits the same. We describe the price behavior and relative cost-effectiveness of each policy. Treating permits differently generally leads to higher costs, and may lead to price divergence, even with only speculation about delinking. (C) 2015 Elsevier Inc. All rights reserved.
Keyword:
Emissions trading
Linking
Delinking
Speculation
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期刊

Journal of Environmental Economics and Management 封面图
Journal of Environmental Economics and Management
IF:
5.9
论文数:
2.6K
被引数:
1.2W

机构

D
Duke University
学者数:
6.3W
论文数: 5.7W
被引数: 6.5W
U
University of North Carolina Chapel Hill
学者数:
3.9W
论文数: 3.1W
被引数: 46
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