We provide a quantitative assessment of policy options to inform the 2021 review of the EU
Emissions Trading System (ETS) and raise climate ambition. We use a permit trading model …

It is often argued that compared to a carbon tax, a volatile carbon price under an emissions
trading system poses a problem in the transition towards a low carbon economy. However …

We propose an emission cap adjustment policy for an emission trading system (ETS) that
allows banking of allowances for later use and faces business cycle uncertainty. The forward …

Global climate change is one of the most serious environmental problems that has attracted
an unprecedented global attention. The scientific community has recognized that human …

This paper evaluates the bioeconomic performance of individual fishing quota (IFQ)
regulations in multiple-species fisheries. In our model, a manager chooses the aggregate …

Abstract Will the Market Stability Reserve (MSR) of the European Union (EU) Emission
Trading System (ETS) help:(i) address the current surplus of unused allowances and (ii) …

The carbon trading scheme has been recognized as a cost-saving and effective way to
promote carbon emission abatement. This paper constructs an intertemporal carbon market …

In order to combat global warming and curb the undesirable repercussions of GHG
emissions, countries have introduced response policies in the transition to a low-carbon …

We study non-compliance in an emissions trading system in which firms may bank and
borrow permits. We find a condition involving auditing probability that characterizes …

Policy makers reformed the European Union (EU) Emission Trading System (ETS) to
address low prices and price volatility. They reduced the cap and strengthened the Market …