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Do Permit Allocations Matter?Harrie A. A. VerbonTilburg University - CentER; CESifo (Center for Economic Studies and Ifo Institute for Economic Research) Cees WithagenFree University of Amsterdam; Tilburg University November 9, 2010 CESifo Working Paper Series No. 3236 Abstract: In the standard setting a system of tradable permits is effective and cost-efficient in attaining the policy objective of pollution reduction. This outcome is challenged in case of a tradable permit system in a federal system/constitution with individual states having discretionary power regarding environmental policy and where pollution is transboundary across states. This paper explores the opportunities of the central authority to influence the effectiveness and efficiency of the system, under various institutional arrangements, through the initial allocation of permits.
Number of Pages in PDF File: 19 Keywords: tradable permits, fiscal federalism JEL Classification: H21, H23, Q00 working papers seriesDate posted: November 10, 2010Suggested CitationContact Information
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