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

Antoine Mandel

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Abstract: 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.

Keywords: markets of allowances; General equilibrium theory; existence of equilibrium; externalities; increasing returns; Equilibre général économique; existence; rendements croissants; externalités; marchés de droits (search for similar items in EconPapers)
Date: 2007-05
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00155783
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Citations: View citations in EconPapers (2)

Published in 2007

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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:hal:journl:halshs-00155783

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