Changes in the firms behavior after the opening of an allowance market
This paper focuses on the influence of the opening of a market of allowances, such as the European Union Emission Trading Scheme, on the general equilibrium of an economy. Assuming there existed an equilibrium before the opening of this new market, we describe the changes in the firms behavior which guarantee that an equilibrium can be reached in the enlarged economy. The existence of an equilibrium in this framework can then be interpreted as ensuring the economy has the capacity to undergo the opening of allowances without too important modifications in its organisation.
|Date of creation:||May 2007|
|Publication status:||Published in Documents de travail du Centre d'Economie de la Sorbonne 2007.27 - ISSN : 1955-611X. 2007|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00155783|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
When requesting a correction, please mention this item's handle: RePEc:hal:cesptp:halshs-00155783. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If references are entirely missing, you can add them using this form.