Publications
Comovement and the financialization of commodities
We investigate how the correlations amongst commodity futures have changed since the early 2000s. Using data from 1998 to 2011, we examine differences in the dependence structure of index and … read more »
Emissions trading systems with cap adjustments
Emissions Trading Systems (ETSs) with fixed caps lack provisions to address systematic imbalances in the supply and demand of permits in response to economic shocks. This paper proposes a new mechanism which adjusts the allocation of permits based on the current bank of permits to create a dynamic system of permit allocation. read more »
Emissions trading systems with cap adjustments
This working paper analyses the design of the market stability reserve proposed as part of the reform of the European Union emissions trading system. read more »
Carbon dating: When is it beneficial to link ETSs?
We propose a theory of the economic advantage (EA) of regulating carbon emissions by linking two emissions trading systems versus operating them under autarky. Linking implies that permits issued in … read more »
How green are economists?
The market for voluntary carbon offsets has grown steadily in the last decade, yet it remains a very small niche. While 10% of greenhouse gas emissions generated by transportation are … read more »
Renewables, allowances markets, and capacity expansion in energy-only markets
We investigate the combined effect of an Emission Trading System (ETS) and renewable energy sources on electricity generation investment in energy-only markets. We propose a simple representation of the capacity … read more »
Understanding the demand for REDD+ credits
Laing, Timothy, Taschini, Luca and Palmer, Charles (2016). In: Environmental Conservation
Green taxes in a post-Paris world: are millions of nays inevitable?
This paper addresses the question of the acceptability of cost-effective climate policy in a real-voting setting – the 2015 ballot on energy taxes in Switzerland. read more »
Demand for offsetting and insetting in the EU Emissions Trading System
International carbon offsetting can help reduce compliance costs in emissions trading schemes and at the same time support carbon mitigation projects in developing countries. A surprising observation from the European … read more »
Environmental Policy and Directed Technological Change: Evidence from the European Carbon Market
This paper investigates the impact of the European Union Emissions Trading System (EU ETS) on technological change, exploiting installations level inclusion criteria to estimate the System’s causal impact on firms’ … read more »
