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Title:Trading hot air : the influence of permit allocation rules, market power and the US withdrawal from the Kyoto Protocol PDF Logo
Authors:Klepper, Gernot
Peterson, Sonja
Issue Date:2002
Series/Report no.:Kieler Arbeitspapiere 1133
Abstract:After the conferences in Bonn and Marrakech it is likely that international emission trading will be realized in the near future. Major influences on the permit market are the institutional detail, the participation structure and the treatment of hot air. Different scenarios do not only differ in their implications for the demand and supply of permits and thus the permit price, but also in their allocative effects. In this paper we discuss likely institutional designs for permit allocation in the hot-air economies and the use of market power and quantify the resulting effects with and without US partieipation by using the computable general equilibrium model DART
Subjects:emission trading
hot air
permit allocation
market power
Kyoto Protocol
CGE Model
DART
JEL:C68
D58
F18
Q48
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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