A Review of Carbon Trading Theory and Practice

20 Pages Posted: 29 May 2007  

George Milunovich

Macquarie University - Department of Economics

Alison Stegman

Australian National University (ANU)

Deborah Cotton

University of Technology Sydney (UTS); Financial Research Network (FIRN)

Date Written: May 28, 2007

Abstract

We present a summary of current initiatives to climate change management including a review of existing carbon trading schemes and the economic arguments supporting those schemes. We also outline conditions under which the existing carbon market structures are optimal as well as those under which improvements upon the current schemes can be made.

Keywords: Carbon-dioxide allowances, economics of climate change, global warming

JEL Classification: Q42, R38

Suggested Citation

Milunovich, George and Stegman, Alison and Cotton, Deborah, A Review of Carbon Trading Theory and Practice (May 28, 2007). Available at SSRN: https://ssrn.com/abstract=989271 or http://dx.doi.org/10.2139/ssrn.989271

George Milunovich (Contact Author)

Macquarie University - Department of Economics ( email )

Sydney NSW 2109
Australia

Alison Stegman

Australian National University (ANU) ( email )

Canberra, Australian Capital Territory 2601
Australia

Deborah Cotton

University of Technology Sydney (UTS) ( email )

15 Broadway, Ultimo
PO Box 123
Sydney, NSW 2007
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

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