This paper critically assesses the potential for linkage of emissions trading schemes (ETS) designed to curb greenhouse gases. Based on current negotiations in order to link domestic schemes, we highlight the institutional barriers that exist due to different design options. Among these...

Since the creation of the European Union Emissions Trading Scheme (EU ETS) in 2005, a burgeoning academic literature has emerged to identify the factors that shape the price of carbon, where one European Union Allowance is equal to one ton of CO2-equivalent emitted in the atmosphere. Thus, there...