In most policy applications of general equilibrium modeling, cost functions are calibrated to benchmark data. Modelers often choose the functional form for cost functions based on suitability for numerical…
The Clean Development Mechanism (CDM) aims to enhance the efficiency of the Kyoto Protocol by providing greenhouse gas emission credits from projects in developing countries. Its unequal distribution among host…
The Clean Development Mechanism (CDM), established by the Kyoto protocol, can generate substantial rents for project participants via the sale of Certified Emission Reductions. For this reason, supposedly…