A Note on Market Power in an Emission Permits Market with Banking

被引：0
|
作者：
Matti Liski
Juan-Pablo Montero
机构：
[1] Helsinki School of Economics,Department of Economics
[2] Catholic University of Chile,Department of Economics
来源：
Environmental and Resource Economics | 2005年 / 31卷
关键词：
banking; market power; pollution permit; Q52; L13;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
In this paper, we investigate the effect of market power on equilibrium path of an emission permits market in which firms can bank current permits for use in later periods. In particular, we study the market equilibrium for a large (potentially dominant) firm and competitive fringe with rational expectations. We characterize the equilibrium solution for different permits allocations and discuss the large firm’s stock-holding constraints needed for credible market manipulation.
引用
收藏
页码：159 / 173
页数：14
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