Emissions trading as a policy instrument: evaluation and prospects

This work is the result of a workshop about emission permit markets in Venice, organized by the editors in collaboration with CESifo.

The individual contributions were written independently of each other and differ in topic and methodology, yet they share the underlying theme of theoretical and empirical research in emission permit markets.

The chapters are grouped into four thematic sections: A discussion of the development of the EU ETS since its beginning to the present; political economy considerations; interactions with parallel instruments for climate policy; and firm behaviour in this new market.