Commodity price cycles can arise when there is a tendency to invest more (less) when current prices are high (low). Traditionally this behavior is interpreted as based upon naïve expectations. However, weak financial institutions can also cause this behavior. When borrowing is hard and saving is risky farmers cannot invest

There is an ongoing reform in coal taxation in China, from a quantity-based to a pricebased​ approach. While the coal tax could play an important role in resource conservation and air pollution reduction, its distributional effect is not well studied. This paper investigates the distributional effect of China’s coal taxes on households before and after the reform.

It is widely accepted that the firms included in an emissions trading scheme (ETS) come mostly from oligopolistic industries. The “exclusionary manipulation” of these heterogeneous emitters can distort both output and permit markets and lead to differences in abatement technology adoption.