This article investigates firms’ banking and pooling behaviors in the context of the EU Emissions Trading Scheme (EU ETS) during Phase I (2005-2007). It provides an overview of the questions raised at the firm-level by the introduction and implementation of the EU trading system in terms of...

This paper investigates the economic consequences of permits allocation rules. Following the rapid development of the Kyoto Protocol and the EU Emission Trading Scheme, it appears critical to better understand the procedure of allocation of permits between countries/firms and its distributive...

In this paper, we analyze the choice of primary prevention made by individuals who bear a risk of being in bad health and an additive risk (of complications) that occurs after a disease has been diagnosed. By considering a two argument utility (depending on wealth and health), we show that the...

In this paper, we analyze the determinants of primary prevention and the social optimum. First, we analyze optimal decisions on primary prevention and savings when individuals face a health risk involving expenses that can not be covered by any insurance (private or public). To manage health...

The demographic structure of a country influences economic activity. The "second dividend" modifies growth. Accordingly, in general equilibrium, the second dividend and the demographic structure are interrelated. This paper aims at assessing empirically the "second dividend" in a dynamic,...

Environmental challenges, and the potential solutions to address them, have a direct effect on living standards, the organization of economies, major infrastructures, and modes of urbanization. Since the publication of path-breaking contributions on the governance of environmental resources in...

Pour les auteurs, la nature est un ensemble de systèmes régulateurs comme l'eau ou le climat, mais qui est menacé par les modes de croissance actuels. Ils proposent de considérer ces systèmes comme un facteur de production naturel et d'aller vers une économie verte. Des exemples sont pris...

Climate Economics in Progress offre une vue d’ensemble de l’action contre le changement climatique. Basé sur les données les plus récentes, cet ouvrage analyse le développement des marchés du carbone en Europe et dans d’autres parties du monde. Il examine également les conditions...

This paper investigates the link between wholesale electricity prices in Europe and the CO2 cost, i.e. the price of European Union Allowances (EUAs), over the two first phases of the European Union Emissions Trading Scheme (EU ETS). We set up a theoretical framework and an empirical model to...