through EU Emission Trading System (EU ETS). Our lessons are, first of all, that a cap-and-trade system like EU ETS is very …. Third, it is far from obvious why EU ETS should cover the entire carbon emissions base if other instruments, like (implicit …) carbon taxes are already available. Finally, EU ETS seems at least partially responsible for the observed steady reduction of …

According to the Phase IV (2021-2030) rules of the EU ETS, the total amount of emissions permits allocated to firms is …

recently revised EU ETS Directive, we then combine a country’s phase-out policy with canceling the permits it formerly used to …

In June 2018, an agreement between key EU institutions – the Commission, the European Parliament, and the European … Council – was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a … comprehensive assessment of the EU package, with its three main targets: lower greenhouse gas emissions, higher renewable share in …

With the new rules of the EU ETS, involving cancellation of allowances, cumulative emissions are no longer fixed but …

Policy makers in the EU and elsewhere are concerned that unilateral carbon pricing induces carbon leakage through … general equilibrium (CGE) model calibrated to empirical data, we quantify the welfare gains for the EU to impose such a …

green paradox for a general model and then apply it to the details of EU ETS. In 2018, new rules for a Market Stability … model disciplined on the price rise in the EU ETS that followed the introduction of the MSR …