Changes in the firms behavior after the opening of an allowance market

Antoine Mandel

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: This paper focuses on the influence of 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

Keywords: General equilibrium theory; existence of equilibrium; externalities; increasing returns; markets of allowances (search for similar items in EconPapers)
JEL-codes: C62 D21 D51 D62 Q54 Q58 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2007-05
New Economics Papers: this item is included in nep-ene and nep-env
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Changes in the firms behavior after the opening of an allowance market (2007)
Working Paper: Changes in the firms behavior after the opening of an allowance market (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:b07027

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