On the Strategic Effect of International Permits Trading on Local Pollution
We introduce a model of strategic environmental policy where two firms compete à la Cournot in a third market in the presence of multiple pollutants. Two types of pollutants are introduced: a local and a transboundary one. The regulator can only control local pollution as transboundary pollution is...
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| Veröffentlicht in: | Environmental & resource economics 2019-11, Vol.74 (3), p.1299-1329 |
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| container_title | Environmental & resource economics |
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| creator | Antoniou, Fabio Kyriakopoulou, Efthymia |
| description | We introduce a model of strategic environmental policy where two firms compete à la Cournot in a third market in the presence of multiple pollutants. Two types of pollutants are introduced: a local and a transboundary one. The regulator can only control local pollution as transboundary pollution is regulated internationally. We illustrate that when transboundary pollution is regulated through the use of tradable emission permits instead of non-tradable ones then a new strategic effect appears which has not been identified thus far. In this case, local pollution increases further. We caution that linking permit markets across regions may be welfare detrimental. We also provide evidence from the implementation of EU ETS over the pollution of particulate matters (
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| doi_str_mv | 10.1007/s10640-019-00369-0 |
| format | Article |
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| ispartof | Environmental & resource economics, 2019-11, Vol.74 (3), p.1299-1329 |
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| source | PAIS Index; SpringerLink Journals |
| subjects | Economic models Economic Policy Economics Economics and Finance Emissions Environmental Economics Environmental Law/Policy/Ecojustice Environmental Management Environmental policy Environmental regulations Markets Nationalekonomi Pollutants Pollution Pollution control Trading Transboundary pollution Welfare |
| title | On the Strategic Effect of International Permits Trading on Local Pollution |
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