Cap-and-Trade Properties under Different Scheme Designs

This paper examines the key design mechanisms of existing and proposed cap-and-trade markets. First, it is shown that the hybrid systems under investigation (safety-valve with offsets, price floor using a subsidy, price collar, allowance reserve, and options offered by the regulator) can be decomposed into a combination of an ordinary cap-and-trade scheme with European- or American-style call and put options. Then, we quantify and discuss the advantages and disadvantages of the proposed hybrid schemes by investigating whether pre-set objectives (enforcement of permit price bounds and reduction of potential costs for relevant companies) can be accomplished while maintaining the original environmental targets.Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research

Moisture conditions in coated wood panels during 18 months natural weathering at five sites in Europe

Wood moisture content of coated panels of Scots pine sapwood was recorded during 18 months natural weathering in Vienna by logging electric resistance and temperature near the surface. Eight coating systems with various film thicknesses were used, including three solvent borne alkyd stains, three water borne acrylic stains and two water borne acrylic paints. At five sites in Europe wood moisture content of panels coated with three solvent borne alkyd stains, a brow acrylic stain and a white opaque acrylic paint was recorded weekly by changes in panel mass. Fluctuations in wood moisture content were influenced by the film thickness, moisture protection and colour of the coating systems used. Degradation phenomena led to decreasing moisture protection of less durable coating systems over time of exposure. Differences between the exposure sites were relatively low, except the site in the UK where moisture conditions were higher

Second-harmonic generation in graded metallic films

We study the effective second-harmonic generation (SHG) susceptibility in graded metallic films by invoking the local field effects exactly, and further numerically demonstrate that the graded metallic films can serve as a novel optical material for producing a broad structure in both the linear and SHG response and an enhancement in the SHG signal.Comment: 10 pages, 2 EPS figures. Minor revision