amounts of "abundant" emission rights. Concerns on hot air motivated proposals for caps on emissions trading by the EU. These …

base case we find that the EU implementation of the Kyoto Protocol implies low overall costs and a relatively even cost … marginally but changes the cost distribution significantly, holding total EU emissions constant. …

magnitude and distribution of abatement costs across EU countries vis-à-vis a comprehensive EU emission trading regime. We find … permit trade enhances the secondary terms-of-trade benefits to EU member countries with low marginal abatement costs at the … expense of the other EU member states. …

program. As the EU Emissions Trading Scheme (EU-ETS) covers only part of domestic carbon emissions, it implies a hybrid … environmental regulation scheme: Each EU Member State must specify additional domestic abatement policies for the sectors that are … not covered by the emissions trading scheme in order to meet its emissions budget under the EU Burden Sharing Agreement …

Since January 1st the European Union has launched an EU-internal emissions trading scheme (EU ETS) for emission …-intensive installations as the central pillar to comply with the Kyoto Protocol. The EU ETS may be linked at some time to a Kyoto emissions … into account potential linkages between the Kyoto emissions market and the EU ETS. We find that Russia may have incentives …