TY - BOOK AU - Bernard,Alain AU - Vielle,Marc AU - Viguier,Laurent TI - Initial Simulations of the European Directive on CO2 Emission Quotas Using the GEMINI-E3 Model PY - 2005///. N1 - 92 N2 - The article assesses the European Directive on CO2 emission quotas using the GEMINI-E3 model. After summarizing the Directive and briefly describing the model, we present and analyze scenarios for different potential allocation rules. While the European quota mechanism creates a single market for eligible firms, it can also cause distortions vis-à-vis other economic sectors in each country. The arrangement does yield a single carbon price for all eligible firms, but a different carbon price for other sectors—with variations from country to country. The resulting excess costs can be significant UR - https://shs.cairn.info/journal-economie-et-prevision-1-2005-3-page-171?lang=en&redirect-ssocas=7080 ER -