The paper proposes a critical discussion of the 'market' mindset that is centred on epistemological concerns relative to its increasing application to matters which predominantly involve moral choices. The issue of climate change is explicitly defined in terms of ethical responsibility to future...

The paper proposes a critical discussion of the 'market' mindset that is centred on epistemological concerns relative to its increasing application to matters which predominantly involve moral choices. The issue of climate change is explicitly defined in terms of ethical responsibility to future...

Given that the carbon price in the EU Emissions Trading System is only around 5€/tCO2 while consensus about a more stringent EU climate policy is very unlikely in the near future, we explore the potential scope and optimal design of additional national climate policies in the current EU policy...

Carbon taxes are commonly seen as a rational policy response to climate change, but little is known about their performance from an ex-post perspective. This paper analyzes the emissions and cost impacts of the UK CPS, a carbon tax levied on all fossil-fired power plants. To overcome the problem...

Since 2005, the EU ETS has provided a market-based price signal for European carbon emissions, accompanied by increasing economic research related to this policy instrument. In this paper, we carry out a review of the empirical literature examining allowance price formation. A consensus has...

Because of large economic and environmental asymmetries among world regions and the incentive to free ride, an international climate Regime with broad participation is hard to reach. Most of the so far proposed Regimes base on an allocation of emission rights that is to be perceived as fair....