{"id":"https://openalex.org/W3125901265","doi":null,"title":"Environmental policy and speculation on markets for emission permits","display_name":"Environmental policy and speculation on markets for emission permits","publication_year":2005,"publication_date":"2005-10-01","ids":{"openalex":"https://openalex.org/W3125901265","mag":"3125901265"},"language":"en","primary_location":{"id":"mag:3125901265","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:ctl:louvec:2005049","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://hdl.handle.net/2078.1/4662","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5086016870","display_name":"Paolo Colla","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I71209653","display_name":"Bocconi University","ror":"https://ror.org/05crjpb27","country_code":"IT","type":"education","lineage":["https://openalex.org/I71209653"]}],"countries":["IT"],"is_corresponding":false,"raw_author_name":"Paolo Colla","raw_affiliation_strings":["Universit\u00e0 Bocconi"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Universit\u00e0 Bocconi","institution_ids":["https://openalex.org/I71209653"]}]},{"author_position":"middle","author":{"id":null,"display_name":"Marc Germain","orcid":"https://orcid.org/0000-0002-8466-0916","observed_orcids":["https://orcid.org/0000-0002-8466-0916"]},"institutions":[{"id":"https://openalex.org/I2279609970","display_name":"Universit\u00e9 de Lille","ror":"https://ror.org/02kzqn938","country_code":"FR","type":"education","lineage":["https://openalex.org/I2279609970"]},{"id":"https://openalex.org/I95674353","display_name":"UCLouvain","ror":"https://ror.org/02495e989","country_code":"BE","type":"education","lineage":["https://openalex.org/I95674353"]}],"countries":["BE","FR"],"is_corresponding":false,"raw_author_name":"Marc Germain","raw_affiliation_strings":["Universit\u00e9s de Lille and Universit\u00e9 catholique de Louvain"],"raw_orcid":"https://orcid.org/0000-0002-8466-0916","affiliations":[{"raw_affiliation_string":"Universit\u00e9s de Lille and Universit\u00e9 catholique de Louvain","institution_ids":["https://openalex.org/I2279609970","https://openalex.org/I95674353"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5112604348","display_name":"Vincent van Steenberghe","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I95674353","display_name":"UCLouvain","ror":"https://ror.org/02495e989","country_code":"BE","type":"education","lineage":["https://openalex.org/I95674353"]}],"countries":["BE"],"is_corresponding":false,"raw_author_name":"Vincent van Steenberghe","raw_affiliation_strings":["Belgian Federal Ministry for the Environment and Universit\u00e9 catholique de Louvain"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Belgian Federal Ministry for the Environment and Universit\u00e9 catholique de Louvain","institution_ids":["https://openalex.org/I95674353"]}]}],"institutions":[],"countries_distinct_count":3,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10471","display_name":"Climate Change Policy and Economics","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10471","display_name":"Climate Change Policy and Economics","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10067","display_name":"Stochastic processes and financial applications","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13756","display_name":"International Environmental Law and Policies","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2308","display_name":"Management, Monitoring, Policy and Law"},"field":{"id":"https://openalex.org/fields/23","display_name":"Environmental Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/tradable-emission-permits","display_name":"tradable emission permits","score":0.9179999828338623},{"id":"https://openalex.org/keywords/speculation","display_name":"speculation","score":0.5569999814033508},{"id":"https://openalex.org/keywords/kyoto-protocol","display_name":"Kyoto Protocol","score":0.7960000038146973},{"id":"https://openalex.org/keywords/environmental-policy","display_name":"environmental policy","score":0.8730000257492065},{"id":"https://openalex.org/keywords/risk-aversion","display_name":"risk aversion","score":0.9620000123977661},{"id":"https://openalex.org/keywords/emissions-trading","display_name":"emissions trading","score":0.6150000095367432}],"concepts":[{"id":"https://openalex.org/C47941915","wikidata":"https://www.wikidata.org/wiki/Q107885","display_name":"Speculation","level":2,"score":0.9852584004402161},{"id":"https://openalex.org/C108170787","wikidata":"https://www.wikidata.org/wiki/Q3951828","display_name":"Agency (philosophy)","level":2,"score":0.6218822598457336},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.6052388548851013},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5415821671485901},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.48929187655448914},{"id":"https://openalex.org/C99743013","wikidata":"https://www.wikidata.org/wiki/Q47359","display_name":"Kyoto Protocol","level":3,"score":0.4314190149307251},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4271029233932495},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.27905482053756714},{"id":"https://openalex.org/C132651083","wikidata":"https://www.wikidata.org/wiki/Q7942","display_name":"Climate change","level":2,"score":0.10319134593009949},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"mag:3125901265","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:ctl:louvec:2005049","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:dial.uclouvain.be:boreal:4662","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/2078.1/4662","pdf_url":null,"source":{"id":"https://openalex.org/S4306401974","display_name":"DIAL (Catholic University of Leuven)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I99464096","host_organization_name":"KU Leuven","host_organization_lineage":["https://openalex.org/I99464096"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"info:eu-repo/semantics/workingPaper"}],"best_oa_location":{"id":"pmh:oai:dial.uclouvain.be:boreal:4662","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/2078.1/4662","pdf_url":null,"source":{"id":"https://openalex.org/S4306401974","display_name":"DIAL (Catholic University of Leuven)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I99464096","host_organization_name":"KU Leuven","host_organization_lineage":["https://openalex.org/I99464096"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"info:eu-repo/semantics/workingPaper"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W70830245","https://openalex.org/W7011243854","https://openalex.org/W2089736298","https://openalex.org/W2137553792","https://openalex.org/W3125511165","https://openalex.org/W1502443425","https://openalex.org/W7099014370","https://openalex.org/W7009045050","https://openalex.org/W1817427245","https://openalex.org/W2924088607"],"abstract_inverted_index":{"Tradable":[0],"emission":[1,23,44],"permits":[2,24,45,51,79],"share":[3],"many":[4],"characteristics":[5],"with":[6],"financial":[7,11],"assets.":[8],"As":[9],"on":[10,19,40],"markets,":[12],"speculators":[13,39,72],"are":[14],"likely":[15],"to":[16,80],"be":[17],"active":[18],"large":[20],"markets":[21],"for":[22,43,68],"such":[25],"as":[26],"those":[27],"developing":[28],"under":[29],"the":[30,36,47,62,69,75],"Kyoto":[31],"Protocol.":[32],"We":[33],"show":[34],"how":[35],"presence":[37,70],"of":[38,49,61,71,78],"a":[41],"market":[42],"affects":[46],"price":[48],"these":[50],"when":[52,73],"firms":[53],"face":[54],"risk":[55],"aversion.":[56],"The":[57],"agency":[58],"in":[59],"charge":[60],"optimal":[63],"environmental":[64],"policy":[65],"should":[66],"account":[67],"determining":[74],"total":[76],"amount":[77],"issue.":[81]},"counts_by_year":[],"updated_date":"2026-09-29T14:09:16.559479","created_date":"2021-02-01T00:00:00"}
