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Changes in the firms behavior after the opening of markets of allowances

  • Antoine Mandel

    ()

This paper focuses on the influence on the general equilibrium of an economy of the opening of markets of allowances, such as the European Union Emission Trading Scheme. Assuming there existed an equilibrium before the opening of allowances' markets, we describe the changes in the firms behavior which guarantee that an equilibrium can be reached in the enlarged economy. Hence we describe under which conditions the economy can undergo the opening of markets of allowances.

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File URL: http://hdl.handle.net/10.1007/s00199-008-0360-x
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Article provided by Springer & Society for the Advancement of Economic Theory (SAET) in its journal Economic Theory.

Volume (Year): 40 (2009)
Issue (Month): 1 (July)
Pages: 1-25

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Handle: RePEc:spr:joecth:v:40:y:2009:i:1:p:1-25
DOI: 10.1007/s00199-008-0360-x
Contact details of provider: Web page: http://www.springer.com

Web page: http://saet.uiowa.edu/

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  1. DEHEZ, Pierre & DREZE, Jacques, . "Competitive equilibria with quantity-taking producers and increasing returns to scale," CORE Discussion Papers RP 819, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Alexandrine Jamin & Antoine Mandel, 2006. "A General Equilibrium Analysis of Emission Allowances," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00084002, HAL.
  3. Antoine Mandel, 2007. "Changes in the firms behavior after the opening of an allowance market," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00155783, HAL.
  4. Jean-Marc Bonnisseau & Bernard Cornet, 1988. "Existence of equilibria when firms follow bounded losses pricing rules," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00187223, HAL.
  5. Dreze, Jacques H, 1975. "Existence of an Exchange Equilibrium under Price Rigidities," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 301-20, June.
  6. David Cass & Alessandro Citanna, 1998. "Pareto improving financial innovation in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(3), pages 467-494.
  7. Antoine Mandel, 2007. "An index formula for production economies with externalities," Documents de travail du Centre d'Economie de la Sorbonne b07026, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  8. Elul Ronel, 1995. "Welfare Effects of Financial Innovation in Incomplete Markets Economies with Several Consumption Goods," Journal of Economic Theory, Elsevier, vol. 65(1), pages 43-78, February.
  9. GIRAUD, Gaël, 2000. "An algebraic index theorem for non-smooth economies," CORE Discussion Papers 2000016, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Jean-Marc Bonnisseau, 1997. "Existence of Equilibria in Economies with Externalities and Nonconvexities," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00176205, HAL.
  11. Boyd, John III & Conley, John P., 1997. "Fundamental Nonconvexities in Arrovian Markets and a Coasian Solution to the Problem of Externalities," Journal of Economic Theory, Elsevier, vol. 72(2), pages 388-407, February.
  12. Jean-Marc Bonnisseau & Jean-Philippe Medecin, 2001. "Existence of marginal pricing equilibria in economies with externalities and non-convexities," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00187219, HAL.
  13. Conley, John P. & Smith, Stefani C., 2005. "Coasian equilibrium," Journal of Mathematical Economics, Elsevier, vol. 41(6), pages 687-704, September.
  14. Jean-Marc Bonnisseau, 1992. "Existence of equilibria in the presence of increasing returns : A synthesis," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00187222, HAL.
  15. Jouini, Elyes, 1992. "An index theorem for nonconvex production economies," Journal of Economic Theory, Elsevier, vol. 57(1), pages 176-196.
  16. repec:dau:papers:123456789/5638 is not listed on IDEAS
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