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Do Markets Trump Politics? Evidence from Fossil Market Reactions to the Paris Agreement and the U.S. Election
(2018-03)
The Paris Agreement was acclaimed as a milestone for climate negotiations. It has also been criticized – as too soft by environmentalists and too constraining by the current U.S. administration, which has decided to leave. ...
Emissions Trading Subject to Kantian Preferences
(2018-01)
We study a cap-and-trade market equilibrium where different regions belonging to an emissions trading regime have different ambitions about the stringency of the cap. Specifically, we introduce a segment of consumers with ...
Fiscal Federalism, Interjurisdictional Externalities and Overlapping Policies
(University of Gothenburg, 2018-09)
In this paper, we analyze the effects of the interaction between national and local policies designed to reduce an environmental externality that causes environmental damages both nationally and locally. We formulate a ...