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dc.contributor.authorBaldursson, Fridrik M.en
dc.contributor.authorvon der Fehr, Nils-Henrik M.en
dc.date.accessioned2010-02-25-
dc.date.accessioned2011-07-01T08:43:16Z-
dc.date.available2011-07-01T08:43:16Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/47321-
dc.description.abstractWe consider an industry with firms that produce a final good emitting pollution to different degree as a side effect. Pollution is regulated by a tradable quota system where some quotas may have been allocated at the outset, i.e. before the quota market is opened. We study how volatility in quota price affects firm behaviour, taking into account the impact of quota price on final-good price. The impact on the individual firm differs depending on how polluting it is - whether it is 'clean' or 'dirty' - and whether it has been allocated quotas at the outset. In the absence of long-term or forward contracting, the optimal initial quota allocation turns out to resemble a grandfathering regime: clean firms are allocated no quotas - dirty firms are allocated quotas for a part of their emissions.With forward contracts and in the absence of wealth effects initial quota allocation has no effect on firm behaviour.en
dc.language.isoengen
dc.publisher|aUniversity of Oslo, Department of Economics |cOsloen
dc.relation.ispartofseries|aMemorandum |x2009,11en
dc.subject.jelD81en
dc.subject.jelD9en
dc.subject.jelH23en
dc.subject.jelL51en
dc.subject.jelQ28en
dc.subject.jelQ38en
dc.subject.ddc330en
dc.subject.keywordregulationen
dc.subject.keywordeffluent taxesen
dc.subject.keywordtradable quotasen
dc.subject.keyworduncertaintyen
dc.subject.keywordrisk aversionen
dc.subject.keywordenvironmental managementen
dc.subject.stwUmweltmanagementen
dc.subject.stwQuotenregulierungen
dc.subject.stwEmissionshandelen
dc.subject.stwÖkosteueren
dc.subject.stwRisikoaversionen
dc.subject.stwEntscheidung bei Unsicherheiten
dc.subject.stwZeitpräferenzen
dc.subject.stwTheorie der Regulierungen
dc.titlePrice volatility and risk exposure: On the interaction of quota and product markets-
dc.typeWorking Paperen
dc.identifier.ppn598761594en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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