Optimal Policy with Tradable and Bankable Pollution Permits: Taking the Market Microstructure into Account.

This paper analyses how the way emission permits are traded -their market microstructure- impacts the optimal policy to be adopted by the environmental agency. The microstructure used is one of a quote driven market type, which characterizes many financial markets: market makers act as intermediaries for trading the permits by setting a ask price and a bid price.

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Year of publication:	2001
Authors:	Germain, M. ; Van Steenberghe, V.
Institutions:	Center for Operations Research and Econometrics (CORE), École des Sciences Économiques de Louvain
Subject:	EMISSION CONTROL \| TRADE \| ENVIRONMENT

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Series:	Papers.
Type of publication:	Book / Working Paper
Notes:	35 pages
Classification:	Q28 - Government Policy ; Q38 - Government Policy
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005634018