The Resource Evaluating limits on participation and transactions in markets for emissions allowances

Evaluating limits on participation and transactions in markets for emissions allowances

Label
Evaluating limits on participation and transactions in markets for emissions allowances
Title
Evaluating limits on participation and transactions in markets for emissions allowances
Creator
Contributor
Subject
Genre
Language
eng
Summary
"In response to concerns that the accumulation of greenhouse gases in the atmosphere could have serious and costly effects, the Congress has considered creating a nationwide cap-and-trade program that would limit emissions of those gases below the levels projected under current law and would allow trading of rights (allowances) to produce those emissions. The ability to buy and sell allowances would reduce the cost to the economy of meeting the cap by letting market forces determine where, how, and when the associated cuts in emissions would be made. However, in creating markets for allowance trading, policymakers would face important questions about how best to ensure that any instability in those markets did not raise the cost of reducing emissions or spill over to the rest of the U.S. economy--as happened with instability in mortgage markets during the recent financial crisis. Various types of participants would probably be active in allowance markets, including covered entities (emitters that must comply with the cap); other entities that would receive allowances from the government and want to sell them; and numerous banks, investors, and other parties that would buy allowances from, and sell them to, the first two types of participants. Transactions in allowance markets would most likely include allowance derivatives (financial contracts whose value would depend on the future price of allowances). Although broad participation and derivatives transactions are common in many markets--such as those for agricultural and energy commodities--some observers have proposed excluding certain market participants or transactions under a potential cap-and-trade program to protect allowance markets and the broader economy from unwanted risks. This Congressional Budget Office (CBO) study--prepared at the request of the Chairman of the Senate Committee on Energy and Natural Resources--examines the likely impact of prohibiting allowance trading by parties other than covered entities or allowance recipients and of banning the use of allowance derivatives. The report also discusses some alternative restrictions on participation and transactions in allowance markets that could impose lower costs on covered entities while reducing the risk of instability in those markets and in the overall economy. In keeping with CBO's mandate to provide objective, impartial analysis, this study makes no recommendations."--Preface
Member of
Action
digitized
Cataloging source
GPO
http://bibfra.me/vocab/lite/collectionName
HeinOnline U.S. Congressional Documents Library
http://library.link/vocab/creatorName
Stocking, Andrew
Government publication
federal national government publication
Index
no index present
LC call number
HC110.P55
LC item number
S76 2010 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
United States
Series statement
A CBO study
http://library.link/vocab/subjectName
  • Emissions trading
  • Greenhouse gas mitigation
  • Carbon dioxide mitigation
  • Air quality management
  • Emissions trading
  • United States
Label
Evaluating limits on participation and transactions in markets for emissions allowances
Instantiates
Publication
Note
  • Title from title screen (viewed on Dec. 16, 2010)
  • "Andrew Stocking ... wrote the study ..."--Preface
  • "December 2010."
  • "Pub. no. 4135."
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
mixed
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Decoupling and Price Bubbles
  • Manipulation
  • Limits on Market Participants.
  • Prohibition on Traders
  • Position Limits
  • Circuit Breakers
  • Limits on Derivatives.
  • Prohibition on Derivatives
  • Reliance on Centralized Clearing
  • Trading Through Formal Exchanges
  • Overview of Allowance Markets in a Proposed Cap-and-Trade Program.
  • Increased Regulation of Over-the-Counter Trading
  • Participants in Allowance Markets
  • The
  • Market for Allowance Derivatives ;
  • The
  • Potential Scale of the Derivatives Market
  • Concerns About Allowance Markets. Systemic Risk
  • Lack of Transparency
Control code
693361519
Dimensions
unknown
Extent
1 online resource (viii, 15 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
(OCoLC)693361519
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Label
Evaluating limits on participation and transactions in markets for emissions allowances
Publication
Note
  • Title from title screen (viewed on Dec. 16, 2010)
  • "Andrew Stocking ... wrote the study ..."--Preface
  • "December 2010."
  • "Pub. no. 4135."
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
mixed
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Decoupling and Price Bubbles
  • Manipulation
  • Limits on Market Participants.
  • Prohibition on Traders
  • Position Limits
  • Circuit Breakers
  • Limits on Derivatives.
  • Prohibition on Derivatives
  • Reliance on Centralized Clearing
  • Trading Through Formal Exchanges
  • Overview of Allowance Markets in a Proposed Cap-and-Trade Program.
  • Increased Regulation of Over-the-Counter Trading
  • Participants in Allowance Markets
  • The
  • Market for Allowance Derivatives ;
  • The
  • Potential Scale of the Derivatives Market
  • Concerns About Allowance Markets. Systemic Risk
  • Lack of Transparency
Control code
693361519
Dimensions
unknown
Extent
1 online resource (viii, 15 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
(OCoLC)693361519
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

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