Comparing policies to confront permit over-allocation

Instability in cap-and-trade markets, particularly with respect to permit price collapses, has been an area of concern for regulators. To that end, several policies, including hybrid price-quantity mechanisms and the newly introduced “market stability reserve” (MSR) systems, have been introduced and even implemented in some cases. I develop a stochastic dynamic model of a cap-and-trade system, parameterized to values relevant to the European Union׳s Emission Trading System (EU ETS) to analyze the performance of these policies aimed at adding stability to the system or at least at reducing perceived over-allocations of permits. Results suggest that adaptive-allocation mechanisms such as a price collar or MSR can reduce permit over-allocations and permit price volatility in a more cost-effective manner than simply reducing scheduled permit allocations. However, it is also found that the performance of these adaptive allocation policies, and in particular the MSR, are greatly affected by assumed discount rates and policy parameters.     

Procrastinating reform: The impact of the market stability reserve on the EU ETS

We study the impact of the market stability reserve (MSR) on price and emission paths of the EU ETS. From 2019 onwards, the MSR will adjust the number of allowances auctioned as a function of the size of the surplus, i.e. in times of a large surplus it shifts the issue date of allowances into the future. In a perfectly competitive allowance market the MSR only affects price and emission paths if the baseline equilibrium becomes unfeasible. If the MSR is binding, prices increase in the short run but drop in the medium run relative to the baseline. The MSR increases price variability if uncertainty over future allowance demand is resolved while there is a surplus. The long run cap is unaffected by both the MSR and overlapping climate policies. This contrasts the EU׳s objectives of improving the resilience of the EU ETS and increasing synergies with overlapping climate policies.     

Are energy efficiency standards justified?

This paper develops an analytical framework for comparing the welfare effects of energy efficiency standards and pricing policies for reducing gasoline, electricity, and nationwide carbon emissions. The model is parameterized with US data and includes key externalities in the energy/transportation sectors and possible underinvestment in energy efficiency due to “misperceptions” over energy savings. Even with large misperceptions, the extra welfare gains from complementing efficient pricing policies with energy efficiency standards are zero for reducing gasoline and 5 percent for reducing electricity. And when viewed as substitutes, these standards forgo 60 percent or more of the potential welfare gains from corresponding pricing policies. A combination of energy efficiency and emissions standards is more than three times as costly as carbon pricing when there is no misperception over energy savings, and even with large misperceptions, combining carbon pricing with gasoline/electricity taxes is better than combining it with energy efficiency standards.     

走向市场是环境监测发展的必然趋势

阐述了作为事业单位的环境监测行业在市场化经济中的改革问题。指出中国进入WTO后,将遇到体制、机制转变,缺乏准则规范和工作效率低下．资金不足和人才流失．以及面对市场化经济不适应等问题。提出国内环境监测行业在市场化经济的发展中。首先应改变无偿为政府提供数据服务的情况,要敢于摆脱落后机制的诸多束缚和思想观念上的因循守旧,将精力投入到开发市场和拓宽监测领域中去,同时提出了积极转变机制、拓展融资渠道、开拓监测领域、适应市场机制、培育和规范环境监测市场的对策。     

Entitlements and the Wollo Famine of 1982–1985

The traglic recent events in Ethiopia and other parts of Africa have again foccussed attention on the different anaytical approaches to the problems iof famine. Perhaps the most important analytical contribution to this field has been Sen's "entitlements approach." One of the case studies Sen used to articulate this approach was of the 1972–1973 famine in Wollo Province, Ethiopia. This article provides a provisional assessment of the famine process in the Wollo during 1982–1985 to set against the analysis by Sen of the earlier famine. Some striking contrasts are revealed.     

水资源持续利用的价值评价与配置问题

综述了水资源价值评价与配置的基本问题。水价值阐释了四方面内容 :( 1 )权属 ,( 2 )评价者 ,( 3)多元性及相应的评价方法 ,( 4 )地域性。就三方面分析了水配置 :( 1 )制度配置 ,( 2 )市场配置 ,( 3)保障基本需求。并就水资源持续利用提出了一些建议。     

环保产业的特点及其前景

文章分析了环保产业作为环境保护的重要支撑，已成为具有广阔的发展前景的新兴产业，具有新兴产业发展的一般特征。以环境法规和环境管理政策去推动环保产业发展，已成为世界环保产业发展新的动力，使环保产业在国际上构成一个竞争激烈的潜在的大市场。     

环境保护最佳实用技术推广思考

根据环境保护最佳实用技术推广工作现状,分析了有利于推广的外部环境和条件,并对加快加强推广工作提出了意见和建议:建立新的推广机制、建立组织保障体系、加强建设信息网络、建立法律支持体系、利用八项管理制度、确保资金投入给予优惠政策等。     

环保科研如何走向市场

论述了环保科研要适应市场经济的需要,转变观念,走向市场,并由市场来引导科研的几点措施和途径。提出了要制定有关政策,为环保科研走向市场创造良好的内外部环境和必要条件,促使环保科研成果更快地转化为生产力,并产生效益,来增强环保科研本身的活力。     

社会主义市场经济中政府的环境保护职能探析

在全面分析人类、社会、经济发展过程中的教训和经验的基础上,提出强化政府职能是环境与发展的永恒主题,发达国家“经济靠市场,环境靠政府”,是值得借鉴的经验,文章还详尽地探讨了在社会主义市场经济体制下,政府应该承担的６项具体的环境保护职能。