Linking the EU and Chinese Emission Trading Systems (ETS) increases the cost-efficiency of reaching greenhouse gas mitigation targets, but both partners will benefit - if at all - to different degrees. Using the global computable-general equilibrium (CGE) model DART Kiel, we evaluate the effects...

The upcoming European Emissions Trading Scheme (ETS) is one of the more controversial climate policy instruments. Predictions about its likely impact and its performance can at present only be made to a certain degree. As long as the National Allocations Plans are not finally settled, the...

After the conferences in Bonn and Marrakech it is likely that international emission trading will be realized in the near future. Major influences on the permit market are the institutional detail, the participation structure and the treatment of hot air. Different scenarios do not only differ...

Since the study of Ellerman and Decaux (1998) marginal abatement cost curves (MACCs) have become one of the favorite instruments to analyze the impacts of the implementation of the Kyoto Protocol and emission trading. This paper shows that the MACC in one country depends - via the link of world...

The DART model is a multi-sectoral, multi-regional dynamic computable general equilibrium model of the world developed for the analysis of international climate policies. Since the first version of DART was developed at the Kiel Institute for World Economics in 1998, the model has undergone a...

The objective of this paper is to assess the likely allocation effects of the current cli-mate protection strategy as it is laid out in the National Allocation Plans (NAPs) for the European Emissions Trading Scheme (ETS). The multi-regional, multi-sectoral CGE-model DART is used to simulate the...

The European emissions trading scheme (EU-ETS) for CO2 is the largest existing emissions trading scheme in the world. The main reason for the implementation of this scheme is to reach the European Kyoto targets at minimal cost and to establish a price for emissions. The right to emit CO2...

The European Union (EU) is actively campaigning for the global regulation of carbon emissions generated by maritime bunker fuels because these emissions are presently barely regulated and are projected to increase significantly in the coming decades. However, since a global regulation has not...