Publications
Market-based instruments and technology choices: a synthesis
Market-based instruments are widely used to encourage innovation and investment in cleaner technologies. Using a simple analytical framework and graphical representations, this paper provides a theoretical … read more »
Perverse incentives under the CDM: a comment
The Clean Development Mechanism (CDM) provides some basic safeguards to ensure that HFC-23 reductions are additional, primarily aimed at establishing a realistic baseline scenario for HFC-23 … read more »
Climate change and carbon markets: a panoramic history
International carbon markets have grown quickly in recent years, but have also experienced serious problems and faced harsh criticism. This paper looks at the history of … read more »
Raising finance to support developing country action: some economic considerations
This article explores the principles that should guide efforts to raise finance for climate action in developing countries. The main conclusions are that, first, there is an important role … read more »
Carbon trading: unethical, unjust and ineffective?
Cap-and-trade systems for greenhouse gas emissions are an important part of the climate change policies of the EU, Japan and New Zealand, among others, as well … read more »
Trade in ‘virtual carbon’: empirical results and implications for policy
The fact that developing countries do not have carbon emission caps under the Kyoto Protocol has led to the current interest in high income countries in border taxes on … read more »
Carbon trading: unethical, unjust and ineffective?
Cap-and-trade systems for greenhouse gas emissions are an important part of the climate change policies of the EU, Japan, New Zealand, among others, as well as China (soon) and … read more »
Pollution permits, strategic trading and dynamic technology adoption
This paper analyses the dynamic incentives for technology adoption under a transferable permits system, which allows for strategic trading on the permit market. Initially, firms can … read more »
The role of stocks and shocks concepts in the debate over price vs. quantity
Two simple examples are constructed that help to clarify the role of a key assumption in the analysis of price or quantity controls of greenhouse gases … read more »
Experimental comparison between markets on dynamic permit trading and investment in irreversible abatement with and without nonregulated companies
This paper examines the investment strategies of regulated companies in abatement technologies, market participants’ trading behaviours, and the liquidity level in an inter-temporal cap and trade … read more »
