Testing the Efficiency of a Tradeable Permits Market
نویسندگان
چکیده
منابع مشابه
Testing the E¢ciency of a Tradeable Permits Market
A tradeable permits market is said to be e¢cient when all a¤ected ...rms trade permits until their marginal costs equal the market price. Detailed ...rm-level data are generally required to perform such an e¢ciency test, yet such information is rarely available. If ...rms face a declining target, however, and are allowed to bank permits, as has occured recently, aggregated data such as the evol...
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This note offers a perspective on whether tradeable permits are a passing fad or an enduring trend. It does so in noting how various types of tradeable permit systems relate to conventional environmental permits, what are the unique requirements of tradeable permit systems, and why they might be preferred to alternative instruments. A final observation concerns the analogy between tradeable per...
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We compare three different views on the long run efficiencies of emission taxes which include thresholds (inframarginal exemptions), and of tradeable emission permits where some permits are initially free. The differences are caused by different assumptions about whether thresholds and free permits should be subsidies given only to firms that produce, or full property rights. Treating tax thres...
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2 Introduction In this paper, we provide a guide for policymakers who consider using tradeable permits as an environmental policy tool. Most of the issues we discuss are relevant both in the domestic and the international realm, although some have particular significance in one of the two areas. In recent years, tradeable permits (TP) have become rather widespread in use 1. The following table ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2003
ISSN: 1556-5068
DOI: 10.2139/ssrn.361701