Kruger, Joseph; Oates, Wallace E.; Pizer, William A. - 2007
In 2005, the European Union introduced the largest and most ambitious emissions trading program in the world to meet … its Kyoto commitments for the containment of global climate change. The EU Emissions Trading Scheme (EU ETS) has some … distinctive features that differentiate it from the more standard model of emissions trading. In particular, it has a relatively …