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| Tekijä: | Godal, O. Klaassen, G. |
| Otsikko: | Carbon trading across sources and periods constrained by the Marrakesh Accords |
| Lehti: | Journal of Environmental Economics and Management
2006 : MAY, VOL. 51:3, p. 308-322 |
| Asiasana: | banking borrowing pollution charges pollution control |
| Kieli: | eng |
| Tiivistelmä: | This paper investigates the potential effects on permit prices and abatement costs of four compliance rules governing emissions trade across sources and periods in the Kyoto protocol: the banking rule that allows excess permits to be used later; the restoration rate tule that penalizes borrowing; the commitment period reserve rule that limits sales and the suspension rule that restricts borrowing and sales. The framework is a two-period model where parties may be out of compliance in the Kyoto period, but are assumed to comply at a later time. Under varying assumptions about market power and US participation, it is shown that the rules may have pronounced effects on individual costs, but overall efficiency is not severely affected. |
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