Linkage of cap-and-trade systems is typically advocated by economists on a general analogy with the beneficial linking of free-trade areas and on the specific grounds that linkage will ensure cost effectiveness among the linked jurisdictions. An appropriate and widely accepted specification for...

Real-world vehicle emissions differ from the legislative emissions limits for a number of reasons. Emissions can be substantially lower but in most cases emissions in real driving conditions are higher than the type-approval values. This is especially the case for NOx emissions from diesels....