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Author :
Publisher : DIANE Publishing
ISBN 13 : 1437942555
Total Pages : 32 pages
Book Rating : 4.4/5 (379 download)
Download or read book Managing Allowance Prices in a CapandTrade Program written by and published by DIANE Publishing. This book was released on with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Terry Dinan
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (327 download)
Download or read book Managing Allowance Prices in a Cap-and-trade Program written by Terry Dinan and published by . This book was released on 2010 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientists generally conclude that rising concentrations of greenhouse gases are warming the Earth's climate. Concern about the damage that might result has led policymakers and analysts to consider policies designed to restrict emissions of those gases. One type of policy, a cap-and-trade program, could minimize the cost of achieving a limit, or cap, on emissions by allowing market forces to determine where, how, and to some extent when the cuts in emissions necessary to achieve the cap would be made. This Congressional Budget Office (CBO) study--prepared at the request of the Chairman of the Senate Committee on Energy and Natural Resources--examines the potential effects of features that would help manage allowance prices, and thus the cost of complying with a cap-and-trade program, by altering the number of allowances available to firms at various prices--Preface.
Author : Terry Dinan
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (973 download)
Download or read book Managing Allowance Prices in a Cap-and-trade Program written by Terry Dinan and published by . This book was released on 2010 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Scientists generally conclude that rising concentrations of greenhouse gases are warming the Earth's climate. Concern about the damage that might result has led policymakers and analysts to consider policies designed to restrict emissions of those gases. One type of policy, a cap-and-trade program, could minimize the cost of achieving a limit, or cap, on emissions by allowing market forces to determine where, how, and to some extent when the cuts in emissions necessary to achieve the cap would be made. (Other options include taxes on emissions and regulatory standards to reduce emissions, or a combination of the various approaches.) A cap-and-trade program would establish increasingly stringent annual limits on greenhouse gas emissions over the course of several decades. The government would distribute rights to emit such gases (allowances) by either selling them, possibly in an auction, or giving them away. Firms would be allowed to trade the allowances after they had been distributed and to shift them over time to some degree by 'banking' unused allowances for future use or by 'borrowing' allowances allocated to future years. The price of allowances would rise to the level necessary to ensure that the limit on cumulative emissions over the life of the policy (implied by the annual caps) was met. That price level would depend crucially on a variety of factors, including the growth of the economy and the development of new technologies to reduce emissions. Because policymakers cannot know in advance how high or low prices will be in any given year, they might consider adding features to the design of a cap-and-trade program that would limit the range of potential allowance prices. This Congressional Budget Office (CBO) study--prepared at the request of the Chairman of the Senate Committee on Energy and Natural Resources--examines the potential effects of features that would help manage allowance prices, and thus the cost of complying with a cap-and-trade program, by altering the number of allowances available to firms at various prices. In keeping with CBO's mandate to provide objective, impartial analysis, the report contains no recommendations." --Preface.
Author : Michael P. Bergmann
Publisher : Nova Science Publishers
ISBN 13 : 9781612095899
Total Pages : 0 pages
Book Rating : 4.0/5 (958 download)
Download or read book Cap-and-trade Program Considerations written by Michael P. Bergmann and published by Nova Science Publishers. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientists generally conclude that rising concentrations of greenhouse gases are warming the Earth's climate. Concern about the damage that might result has led policymakers and analysts to consider policies designed to restrict emissions of those gases. One type of policy, a cap-and-trade program, could minimise the cost of achieving a limit, or cap, on emissions by allowing market forces to determine where, how, and to some extent when the cuts in emissions necessary to achieve the cap would be made. This new book examines the potential effects of features that would help manage allowance prices, and thus the cost of complying with a cap-and-trade program.
Author :
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (461 download)
Download or read book Equity and Efficiency in Cap-and-trade written by and published by . This book was released on 2009 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers the distributional effects of cap-and-trade across different sets of people, including consumers, shareholders, household income groups, and geographic regions, and it explores the role of policy design in determining those effects. The paper describes how the incidence of the program depends on how market forces transmit the costs of emissions abatement through the economy and how the program can create large transfers from one group to another, especially through the way the government doles out allowances. Finally, it explains how the allocation of allowances can lower or raise the overall costs to the economy by reducing other economic distortions or by inducing higher-cost abatement. -- Intro (p.1).
Author : Robert W. Hahn
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (12 download)
Download or read book The Effect of Allowance Allocations on Cap-and-Trade System Performance written by Robert W. Hahn and published by . This book was released on 2010 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine an implication of the 'Coase Theorem' which has had an important impact both on environmental economics and on public policy in the environmental domain. Under certain conditions, the market equilibrium in a cap-and-trade system will be cost-effective and independent of the initial allocation of tradable rights. That is, the overall cost of achieving a given aggregate emission reduction will be minimized, and the final allocation of permits will be independent of the initial allocation. We call this the independence property. This property is very important because it allows equity and efficiency concerns to be separated in a relatively straightforward manner. In particular, the property means that the government can establish the overall pollution-reduction goal for a cap-and-trade system by setting the cap, and leave it up to the legislature - such as the U.S. Congress - to construct a constituency in support of the program by allocating the allowances to various interests without affecting either the environmental performance of the system or its aggregate social costs. Our primary objective in this paper is to examine the conditions under which the independence property is likely to hold - both in theory and in practice. A number of factors can call the independence property into question theoretically, including market power, transaction costs, non-cost-minimizing behavior, and conditional allowance allocations. We find that, in practice, there is support for the independence property in some, but not all cap-and-trade applications -- National Bureau of Economic Research web site.
Author : Canada. Environment Canada
Publisher : Canadian Government Publishing
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 (319 download)
Download or read book Tools of the Trade written by Canada. Environment Canada and published by Canadian Government Publishing. This book was released on 2005 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This guidebook is intended as a reference for policymakers and regulators considering cap and trade as a policy tool to control pollution. It is intended to be sufficiently generic to apply to various pollutants and environmental concerns; however, it emphasizes cap and trade to control emissions produced from stationary source combustion."--Page 1-1, Introduction.
Author : Marika Tatsutani
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (129 download)
Download or read book Managing Costs in a U.S. Greenhouse Gas Trading Program written by Marika Tatsutani and published by . This book was released on 2013 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost containment has emerged as a major point of contention in the current congressional debate about designing a cap-and-trade program to limit future U.S. greenhouse gas (GHG) emissions. This paper reviews basic concepts and policy options for cost management, drawing on a March 2008 workshop sponsored by Resources for the Future (RFF), the National Commission on Energy Policy, and Duke University's Nicholas Institute for Environmental Policy Solutions. The different sources and temporal dimensions of cost uncertainty are explored, along with possible mechanisms for addressing short- and long-term cost concerns, including banking and borrowing, emissions offsets, a price cap (or safety valve), quantity-limited allowance reserve, and the concept of an oversight entity for GHG allowance markets modeled on the Federal Reserve. Recognizing that the inherent trade-off between environmental certainty and cost certainty has no perfect solution, the paper nonetheless concludes that numerous options exist for striking a reasonable and politically viable balance between these two objectives. In the effort to forge consensus around a particular set of options, it will be important for policymakers to strive to fit the remedy to the problem they are trying to solve and to preserve the underlying integrity of the overall program in terms of its long-term ability to sustain meaningful market incentives for low-carbon technologies.
Author : A. Denny Ellerman
Publisher : Cambridge University Press
ISBN 13 : 0521660831
Total Pages : 388 pages
Book Rating : 4.5/5 (216 download)
Download or read book Markets for Clean Air written by A. Denny Ellerman and published by Cambridge University Press. This book was released on 2000-06-19 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book analyzes the behavior and performance of the market for emissions permits, called allowances in the Acid Rain Program, and quantifies emission reductions, compliance costs, and cost savings associated with the trading program."--BOOK JACKET.
Author : Robert W. Hahn
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (695 download)
Download or read book The effect of allowance allocations on cap-and-trade system performance written by Robert W. Hahn and published by . This book was released on 2010 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine an implication of the "Coase Theorem" which has had an important impact both on environmental economics and on public policy in the environmental domain. Under certain conditions, the market equilibrium in a cap-and-trade system will be cost-effective and independent of the initial allocation of tradable rights. That is, the overall cost of achieving a given aggregate emission reduction will be minimized, and the final allocation of permits will be independent of the initial allocation. We call this the independence property. This property is very important because it allows equity and efficiency concerns to be separated in a relatively straightforward manner. In particular, the property means that the government can establish the overall pollution-reduction goal for a cap-and-trade system by setting the cap, and leave it up to the legislature - such as the U.S. Congress - to construct a constituency in support of the program by allocating the allowances to various interests without affecting either the environmental performance of the system or its aggregate social costs. Our primary objective in this paper is to examine the conditions under which the independence property is likely to hold - both in theory and in practice. A number of factors can call the independence property into question theoretically, including market power, transaction costs, non-cost-minimizing behavior, and conditional allowance allocations. We find that, in practice, there is support for the independence property in some, but not all cap-and-trade applications.
Author : United States. Congress. House. Committee on the Budget
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.F/5 ( download)
Download or read book Counting the Change written by United States. Congress. House. Committee on the Budget and published by . This book was released on 2008 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Desheng Dash Wu
Publisher : Springer Science & Business Media
ISBN 13 : 3642193390
Total Pages : 338 pages
Book Rating : 4.6/5 (421 download)
Download or read book Quantitative Financial Risk Management written by Desheng Dash Wu and published by Springer Science & Business Media. This book was released on 2011-06-25 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bulk of this volume deals with the four main aspects of risk management: market risk, credit risk, risk management - in macro-economy as well as within companies. It presents a number of approaches and case studies directed at applying risk management to diverse business environments. Included are traditional market and credit risk management models such as the Black-Scholes Option Pricing Model, the Vasicek Model, Factor models, CAPM models, GARCH models, KMV models and credit scoring models.
Author : Andrew Stocking
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (318 download)
Download or read book Evaluating Limits on Participation and Transactions in Markets for Emissions Allowances written by Andrew Stocking and published by . This book was released on 2010 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In response to concerns that the accumulation of greenhouse gases in the atmosphere could have serious and costly effects, the Congress has considered creating a nationwide cap-and-trade program that would limit emissions of those gases below the levels projected under current law and would allow trading of rights, or allowances, to produce those emissions. In creating markets for allowance trading, policymakers would face important questions about how best to ensure that any instability in those markets did not raise the cost of reducing emissions or spill over to the rest of the U.S. economy (as happened with instability in mortgage markets during the recent financial crisis). Some observers have proposed excluding certain participants or transactions from allowance markets. This study examines the likely impact of prohibiting allowance trading by entities not directly covered by a cap-and-trade program and of banning the use of allowance derivatives. The report also discusses some alternative restrictions on participation and transactions in allowance markets that could impose lower costs on covered entities while reducing the risk of instability in those markets and in the overall economy."--Publisher's website.
Author : Anthony Tarantino
Publisher : John Wiley & Sons
ISBN 13 : 0470946350
Total Pages : 202 pages
Book Rating : 4.4/5 (79 download)
Download or read book Essentials of Risk Management in Finance written by Anthony Tarantino and published by John Wiley & Sons. This book was released on 2010-12-01 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise and and easy to follow introduction to financial risk management This basic survey text offers an accessible introduction to financial risk management, covered in its major components: credit, market, operational, liquidity, legal, and reputational, along with user-friendly processes and tools to conduct your own risk assessments and risk alignments. While there are some mathematical concepts included, these are kept at levels everyone will find easy to grasp. Provides a comprehensive overview of financial risk management, including credit, market, operational, liquidity, legal, and reputational risk areas Discusses the latest trends and next generation techniques emerging in financial risk management Provides risk assessment and risk alignment tools and examples This book offers a good basic understanding of the major areas of risk exposure that all organizations, both public and private, face in operating in today's complex global marketplace. It provides insights into best practices and next generation techniques for readers entering government, not-for-profit, business, and IT positions in which risk management will play an ever expanding role.
Author :
Publisher :
ISBN 13 :
Total Pages : 1288 pages
Book Rating : 4.3/5 (91 download)
Download or read book Compilation of Responses to Climate Change Questionnaire, Part 2 of 2, May 2009, 111-1 Committee Print, * written by and published by . This book was released on 2009 with total page 1288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mike Taylor
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781726032988
Total Pages : 108 pages
Book Rating : 4.0/5 (329 download)
Download or read book Reduce Carbon Compliance Costs: written by Mike Taylor and published by Createspace Independent Publishing Platform. This book was released on 2018-09-14 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reduce Carbon Compliance CostsStrategies for California and Quebec facilities to reduce their compliance cost in the Carbon Cap and Trade Program. I have been tracking, trading, brokering and consulting in the environmental credit markets almost two decades in the United States and Canada. The California and Quebec carbon cap and trade program is by far the most complex system that exists for an environmental credit trading program. The target audience for this book is the environmental professionals or the procurement professionals who are managing the carbon cap and trade compliance for their facilities in California and Quebec. I am writing this book to provide a good overview of the program as well as to share some of the cost-cutting compliance strategies I have developed and deploy with my clients. From 2013 onwards, the Carbon Cap and Trade has added millions of dollars of cost to the many facilities located in California and Quebec that emit more than 25,000 tons of CO2e per year. The rules are complex and change almost yearly. Environmental professionals at these facilities already had a full-time job complying with all the other existing environmental regulations for their facilities before these carbon cap and trade programs were thrust upon them. Now they must also deal with coming to understand more than 400 pages of regulation in California and 117 pages in Quebec. This is a daunting task, to say the least. It is extremely difficult for an environmental professional to become an expert on all existing regulations, keep track of and analyze future potential regulation changes, track the trading market, become an expert on all the trading structures available in the evolving market, recommend the best trading strategies, and then execute the trades. This book will assist the environmental professionals and procurement professionals by providing an overview of the key elements of the carbon cap and trade regulations. In these pages you will find real-life trading strategies that will reduce the cost of compliance and, depending on the size of your facility, the savings could shave millions of dollars off your compliance costs which adds directly to the bottom line of the company's profitability.
Author : Gilbert E. Metcalf
Publisher : Academic
ISBN 13 : 019069419X
Total Pages : 201 pages
Book Rating : 4.1/5 (96 download)
Download or read book Paying for Pollution written by Gilbert E. Metcalf and published by Academic. This book was released on 2019 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows why a carbon tax is the most efficient and fair way to address the major cause of climate change. It explains how a carbon tax reform can help low-income households. And it argues that carbon tax is market based policy that should be supported across the political spectrum.
