Browsing Centre for Applied Macro- and Petroleum economics (CAMP) by Subject "environmental policy, fiscal incentive, fiscal constraints, GHG cap and trade, welfare"
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The fiscal incentive of GHG cap and trade: Permits may be too cheap and developed countries may abate too little
(Working paper, 2014)The theoretical justification for a greenhouse gas (GHG) cap and trade system is that participants will trade emission permits until their marginal cost of abatement equals the equilibrium price of emission permits. ...