Dynamics of optimal carbon prices with inter-temporal regulation
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Yu, Jongmin | - |
dc.date.available | 2020-07-10T06:41:40Z | - |
dc.date.created | 2020-07-06 | - |
dc.date.issued | 2016 | - |
dc.identifier.issn | 1756-8692 | - |
dc.identifier.uri | https://scholarworks.bwise.kr/hongik/handle/2020.sw.hongik/8819 | - |
dc.description.abstract | Purpose - This paper aims to calibrate carbon price trajectories that maximize social welfare where banking and borrowing rules are applied. Design/methodology/approach - Typically, there has been a consensus that banking and borrowing rules within the cap-and-trade system improve social welfare. This additional flexibility can achieve compliance cost smoothing by transferring carbon permits inter-temporally; however, there is also a side effect. Regulated agents have the freedom to escape from the given emissions limit by reallocating previously granted permits. Findings - The market system's flexibility can cause environmental damage by deviating annual or periodic emission limits, which can invalidate the original purpose of cap-and-trade. This paper demonstrates how the socially desirable price trajectory differs from the one that favors the private sector. Originality/value - Few studies have focused on the negative effects of combining the cap-and-trade with the inter-temporal regulation (banking and borrowing), which most policymakers and regulated firms can easily miss. | - |
dc.language | 영어 | - |
dc.language.iso | en | - |
dc.publisher | EMERALD GROUP PUBLISHING LTD | - |
dc.subject | PERMIT MARKETS | - |
dc.subject | BANKING | - |
dc.title | Dynamics of optimal carbon prices with inter-temporal regulation | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Yu, Jongmin | - |
dc.identifier.doi | 10.1108/IJCCSM-03-2014-0040 | - |
dc.identifier.scopusid | 2-s2.0-84953373667 | - |
dc.identifier.wosid | 000369992200001 | - |
dc.identifier.bibliographicCitation | INTERNATIONAL JOURNAL OF CLIMATE CHANGE STRATEGIES AND MANAGEMENT, v.8, no.1, pp.2 - 18 | - |
dc.relation.isPartOf | INTERNATIONAL JOURNAL OF CLIMATE CHANGE STRATEGIES AND MANAGEMENT | - |
dc.citation.title | INTERNATIONAL JOURNAL OF CLIMATE CHANGE STRATEGIES AND MANAGEMENT | - |
dc.citation.volume | 8 | - |
dc.citation.number | 1 | - |
dc.citation.startPage | 2 | - |
dc.citation.endPage | 18 | - |
dc.type.rims | ART | - |
dc.type.docType | Article | - |
dc.description.journalClass | 1 | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
dc.relation.journalResearchArea | Environmental Sciences & Ecology | - |
dc.relation.journalWebOfScienceCategory | Environmental Studies | - |
dc.subject.keywordPlus | PERMIT MARKETS | - |
dc.subject.keywordPlus | BANKING | - |
dc.subject.keywordAuthor | Climate change | - |
dc.subject.keywordAuthor | Banking and borrowing | - |
dc.subject.keywordAuthor | Cap and trade | - |
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