We study the relationship between business cycles and the design and effects of
environmental policies, particularly those with economy-wide significance like climate …

We study potential equilibria in California's cap-and-trade market for greenhouse gases
(GHGs) based on information available before the market started. We find large ex ante …

There is widespread agreement among most economists that economy-wide carbon pricing
will be a necessary (although not necessarily sufficient) component of any policy that can …

There is widespread agreement among economists—and a diverse set of other policy
analysts—that at least in the long run, an economy-wide carbon-pricing system will be an …

Carbon trading is an effective tool to reduce emissions. And the implementation of the policy
requires the cooperation of all participants in the carbon market, then it will cause a …

We compare the decrease in energy demand and CO2 emissions in Europe during the
financial crisis 2008–2009 with the expected drop in demand and emissions due to COVID …

Abstract Emissions Trading Systems (ETSs) with fixed caps lack provisions to address
systematic imbalances in the supply and demand of permits due to changes in the state of …

There is widespread agreement among economists–and a diverse set of other policy
analysts–that, at least in the long run, an economy-wide carbon-pricing system will be an …

This paper analyzes the different climate policies that are used by the EU in the aviation
sector. Using a simple model, we study their effects on welfare as well as on their …

We present an integrated framework to understand the emissions impact of unilateral
overlap** policies within a carbon-pricing system." Internal carbon leakage" captures …