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27 de julio 2017
Using output-based allocations to manage volatility and leakage in pollution markets

Output-based allocations (OBAs) are typically used in emission trading systems (ETS) with a fixed cap to mitigate leakage in sectors at risk. Recent work has shown they may also be welfare enhancing in markets subject to supply and demand shocks by introducing some exibility in the total cap, resulting in a carbon price closer to marginal damage. We extend […]