Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Emissions trading and permit markets Location: Auditorium F Session Chair: Timothy Cason, Purdue University | |
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Time Horizons and Emissions Trading 1: University of Groningen, NL; 2: Swedish University of Agricultural Sciences (SLU), Sweden We study dynamic cap-and-trade schemes in which a policy of adjustable allowance supply determines the cap on emissions. Focusing on two common supply policies, price- and quantity-triggered mechanisms, we investigate how the duration of a cap-and-trade scheme affects equilibrium emissions under its cap. More precisely, we consider the reduction in equilibrium emissions realized by shortening the duration of the scheme. We present four main results. First, the reduction in emissions is positive and bounded from below under a price-triggered mechanism. Second, the reduction in emissions is bounded from above under a quantity-triggered mechanism. Third, these upper and lower bounds coincide when the price- and quantity-triggered mechanisms are similar. Fourth, we identify sufficient conditions for which the reduction in emissions is strictly negative under a quantity-triggered mechanism. We quantify our theoretical results on quantity-triggered supply mechanisms for the European Union Emissions Trading System; effects on cumulative emissions range from trivial to substantial. | |