In this paper, we consider carbon tax and emissions trading as the national policy against the global warming problem. The attitude of the United States, whether they join the international carbon dioxide emissions trading under the Kyoto Protocol or not, will bring a large influence on the global environment and the emissions trading. Therefore, we evaluate the influence on the revenue, the pr...

In the last two decades increasing attention has been paid to the relationship between environmental degradation and economic development. According to the Environmental Kuznets Curve (EKC) hypothesis this relationship may be described by an inverted U-curve. However, recent evidence rejects the EKC hypothesis for GHG emissions in a broad sense. In this paper we analyze the driving factors of C...

The Kyoto Protocol is the first international environmental agreement that sets legally binding greenhouse gas emissions targets and timetables for Annex I countries. Its Article 17 authorizes emissions trading among Annex B countries. If properly designed, emissions trading can effectively reduce their abatement costs, while assisting Annex I countries in achieving their Kyoto obligations. If ...