Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2018.07.025 |
An intertemporal carbon emissions trading system with cap adjustment and path control | |
Jiang, Minxing1; Zhu, Bangzhu1,2; Wei, Yi-Ming3; Chevallier, Julien4; He, Kaijian5 | |
2018-11-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2018 |
卷号 | 122页码:152-161 |
文章类型 | Article |
语种 | 英语 |
国家 | Peoples R China; France |
英文摘要 | Cap adjustment with shocks and cost-effectiveness in cap-and-trade system has been an area of concern for regulators. By a simple two-period model of such system with banking and borrowing, we examine how emission reduction technological changes affect the cap in three cases (i.e. pure flow externality, pure stock externality and mixed externality), and identify the efficiency properties in such system with banking and borrowing. We show that the effects of technological changes on cap are negative in both pure flow and pure stock externality cases. In the mixed externality case, the effects are uncertain, which depend on the decayed rate of CO2 stock, the discounted rate and functions of marginal abatement costs and marginal damage. In general cases, the social optimum is not attainable via the cap-and-trade system, since firms sub-optimally distribute emissions across periods. In a particular case if the ratio of marginal damage in Period 1 to the discounted marginal damage in Period 2 is exactly equal to the decayed rate, the decentralized emissions of firms will lead to the social optimum. Finally, a hybrid quantity-price policy is proposed to rectify the paths of firms to be socially desirable with an effective quantity control. |
英文关键词 | Carbon emissions Cap adjustment Technological change Banking and borrowing Environmental damage Quantity policy Price policy |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000447576700014 |
WOS关键词 | POLLUTION PERMIT BANKING ; MARKET POWER ; PRICES ; ALLOCATION ; EFFICIENCY ; ABATEMENT |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/17979 |
专题 | 气候变化 |
作者单位 | 1.Nanjing Univ Informat Sci Technol, Sch Business, Nanjing 210044, Jiangsu, Peoples R China; 2.Jinan Univ, Sch Management, Guangzhou 510632, Guangdong, Peoples R China; 3.Beijing Inst Technol, Ctr Energy & Environm Policy Res, Beijing 100081, Peoples R China; 4.IPAG Business Sch, IPAG Lab, 184 Blvd St Germain, F-75006 Paris, France; 5.Hunan Univ Sci & Technol, Sch Business, Xiangtan 411201, Peoples R China |
推荐引用方式 GB/T 7714 | Jiang, Minxing,Zhu, Bangzhu,Wei, Yi-Ming,et al. An intertemporal carbon emissions trading system with cap adjustment and path control[J]. ENERGY POLICY,2018,122:152-161. |
APA | Jiang, Minxing,Zhu, Bangzhu,Wei, Yi-Ming,Chevallier, Julien,&He, Kaijian.(2018).An intertemporal carbon emissions trading system with cap adjustment and path control.ENERGY POLICY,122,152-161. |
MLA | Jiang, Minxing,et al."An intertemporal carbon emissions trading system with cap adjustment and path control".ENERGY POLICY 122(2018):152-161. |
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