@techreport{iiasa5940,
          volume = {27},
         address = {IIASA, Laxenburg, Austria},
           title = {Costs of a Ceiling on Kyoto Flexibility},
            type = {IIASA Research Report (Reprint)},
       publisher = {RR-00-011. Reprinted from Energy Policy, 27:833-844 [1999].},
         journal = {Energy Policy},
           pages = {833--844},
            year = {1999},
             url = {https://pure.iiasa.ac.at/id/eprint/5940/},
            issn = {0301-4215},
        abstract = {This paper examines the potential costs of a ceiling on the use of flexibility mechanisms in the Kyoto Protocol using POLES, a partial equilibrium model of the world energy systems. The results suggest that if emission trading were restricted to Annex I countries, halving the traded volume would increase costs by US\$11 billion per year. If emission trading were to operate at a global level, reducing the trade to half the perfect market volume would increase annual costs by US\$12 billion per year. Global carbon emission might, however, be 1\% lower. The sensitivity of the results is discussed.},
          author = {Gusbin, D. and Klaassen, G. and Kouvaritakis, N.}
}