Terminating links between emission trading programs
Publication
, Journal Article
Pizer, WA; Yates, AJ
Published in: Journal of Environmental Economics and Management
May 1, 2015
Links between emission trading programs are not immutable, as highlighted by New Jersey's exit from the Regional Greenhouse Gas Initiative in 2011. This raises the question of what to do with existing permits that are banked for future use-choices that have consequences for market behavior in advance of, or upon speculation about, delinking. We consider two delinking policies. One differentiates banked permits by origin, the other treats banked permits the same. We describe the price behavior and relative cost-effectiveness of each policy. Treating permits differently generally leads to higher costs, and may lead to price divergence, even with only speculation about delinking.
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Published In
Journal of Environmental Economics and Management
DOI
EISSN
1096-0449
ISSN
0095-0696
Publication Date
May 1, 2015
Volume
71
Start / End Page
142 / 159
Related Subject Headings
- Agricultural Economics & Policy
- 3801 Applied economics
- 1402 Applied Economics
- 1401 Economic Theory
- 0502 Environmental Science and Management
Citation
APA
Chicago
ICMJE
MLA
NLM
Pizer, W. A., & Yates, A. J. (2015). Terminating links between emission trading programs. Journal of Environmental Economics and Management, 71, 142–159. https://doi.org/10.1016/j.jeem.2015.03.003
Pizer, W. A., and A. J. Yates. “Terminating links between emission trading programs.” Journal of Environmental Economics and Management 71 (May 1, 2015): 142–59. https://doi.org/10.1016/j.jeem.2015.03.003.
Pizer WA, Yates AJ. Terminating links between emission trading programs. Journal of Environmental Economics and Management. 2015 May 1;71:142–59.
Pizer, W. A., and A. J. Yates. “Terminating links between emission trading programs.” Journal of Environmental Economics and Management, vol. 71, May 2015, pp. 142–59. Scopus, doi:10.1016/j.jeem.2015.03.003.
Pizer WA, Yates AJ. Terminating links between emission trading programs. Journal of Environmental Economics and Management. 2015 May 1;71:142–159.
Published In
Journal of Environmental Economics and Management
DOI
EISSN
1096-0449
ISSN
0095-0696
Publication Date
May 1, 2015
Volume
71
Start / End Page
142 / 159
Related Subject Headings
- Agricultural Economics & Policy
- 3801 Applied economics
- 1402 Applied Economics
- 1401 Economic Theory
- 0502 Environmental Science and Management