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...

We consider an international emissions trading scheme with partial sectoral and regional coverage. Sectoral and regional expansion of the trading scheme is beneficial in aggregate, but not necessarily for individual countries. We simulate international CO2 emission quota markets using marginal...

With the new rules of the EU ETS, involving cancellation of allowances, cumulative emissions are no longer fixed but depending on the market outcome. Perino (2018) showed that additional abatement effort can reduce cumulative emissions if it occurs within a few years. This article shows that...

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...