Because China has emerged as the largest greenhouse gas (GHG) emitter in total annual
emissions, to accelerate the pace of GHG emission reduction in China is important to the …

First published in 1985, Emissions Trading was a comprehensive review of the first large-
scale attempt to use economic incentives in environmental policy in the US and of the …

CO2 emission allowances are traded nowadays over the counter (OTC) and on exchanges
across the European Union (EU). It thus becomes increasingly important for traders of these …

Intertemporal trading of emission permits (banking) is often identified as one of three
promising market mechanisms for controlling pollution (along with averaging and trading) …

This paper presents a model of the collective emission permit banking behavior of electricity-
generating units affected by Title IV of the Clean Air Act Amendments of 1990. A rigorous …

This paper derives optimal schemes for the free allocation of emission allowances in a
dynamic context. We consider emissions-and output-based allocation rules which allow for …

This paper studies various options to support allowance prices in the EU Emissions Trading
System (ETS), such as adjusting the cap, an auction reserve price, and fixed and variable …

We study the impact of the market stability reserve (MSR) on price and emission paths of the
EU ETS. From 2019 onwards, the MSR will adjust the number of allowances auctioned as a …

This paper investigates how the political process of making cap adjustments has shaped
market outcomes in the world׳ s largest cap-and-trade system–the EU ETS. Capitalizing on …

This paper is concerned with the mathematical analysis of emissions markets. We review the
existing quantitative analyses on the subject and introduce some of the mathematical …