论文信息 - The behavior of the allowance market: Theory and evidence

The behavior of the allowance market: Theory and evidence

Abstract Emission allowance prices are likely to be linked between Phase I and Phase II in a way that is predictable and broadly consistent with economic theory. Data suggest that allowance prices have declined over time, and that actual and predicted prices are converging.

Robert W. Hahn | R. Hahn | C. A. May | Carol A. May | C. May

[1] D. R. Bohi,et al. Avoiding regulatory gridlock in the acid rain program , 1991 .

[2] D. Burtraw. Cost Savings sans Allowance Trades? Evaluating the SO2 Emission Trading Program to Date , 1995 .

[3] R. Hahn. Government markets and the theory of the Nth best , 1995 .

[4] V. Smith,et al. Some Welfare Effects of Emission Allowance Trading in a Twice-Regulated Industry , 1993 .

[5] John-Mark Stensvaag,et al. Clean Air Act: Law and Practice , 1991 .

[6] H. Hotelling. The Economics of Exhaustible Resources , 1931, Journal of Political Economy.

[7] Robert N. Stavins,et al. TRANSACTION COSTS AND THE PERFORMANCE OF MARKETS FOR POLLUTION CONTROL , 1993 .

[8] Roger G. Noll,et al. Barriers to Implementing Tradable Air Pollution Permits: Problems of Regulatory Interactions , 1983 .

[9] C. Plott,et al. EPA's New Emissions Trading Mechanism: A Laboratory Evaluation , 1996 .