In this work, we ask whether tradable emissions permits, based on the cap-and-trade principle, provide better climate change and economic projections than alternative regulations for GHG emissions, such as operational permits which are commonly used to mitigate non-GHG emissions (prevention...

In this work, we ask whether tradable emissions permits, based on the cap-and-trade principle, provide better climate change and economic projections than alternative regulations for GHG emissions, such as operational permits which are commonly used to mitigate non-GHG emissions (prevention...

This paper describes two alternative approaches (modified reverse shooting and forward shooting) for solving the time-path of a representative agent model following an exogenous shock. In particular, reverse shooting is demonstrably better for solving part of the model but must be modified...