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Economic efficiency is a major argument for international emissions trading under the Kyoto Protocol. We show that permit trading can be welfare decreasing for countries, even though private trading parties benefit. The result is a case of "immiserizing" growth in the sense of Bhagwati where the negative terms of trade and tax interaction effects wipe out(More)
This paper proposes a computable dynamic game model of the strategic competition between Russia and developing countries (DCs), mainly represented by China, on the international market of emissions permits created by the Kyoto protocol. The model uses a formulation of a demand function for permits from Annex B countries and of marginal abatement costs (MAC)(More)
This paper assesses the economic impacts of the Swiss climate policy formulated under the Kyoto Protocol; the impacts on the carbon price, the welfare cost, and trade effects are examined. Our analysis is based on a multi-sectoral and multi-regional, computable general equilibrium (CGE) model of the world economy (GEMINI-E3) which includes a representation(More)
This paper explores a class of equilibria for piecewise deterministic differential games, with an information structure permitting the players to adapt to the jump Markov disturbance sample path but not to the continuous state trajectory. This information structure is therefore halfway between the open-loop and feedback ones. The paper shows that these(More)
Oracle Based Optimization (OBO) conveniently designates an approach to handle a class of convex optimization problems in which the information pertaining to the function to be minimized and/or to the feasible set takes the form of a linear outer approximation revealed by an oracle. We show, through three representative examples, how difficult problems can(More)