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Capacity investment under demand uncertainty: An empirical study of the US cement industry, 1994-2006
Ponssard, Jean-Pierre; Thomas, Catherine - 2010
implications of the theory literature on this topic in an empirical study of the US cement industry between 1994 and 2006. Firms in … this sector have the ability to deliver cement either from domestic plants or from imports. Since cement is costly to … intensive industries, such as cement, by increasing the relative cost of domestic production. …
Persistent link: https://www.econbiz.de/10010274906
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Endogenous Emission Caps Always Induce a Green Paradox
Gerlagh, Reyer - 2019
For any emission trading system (ETS) with quantity-based endogenous supply of allowances, there exists a negative demand shock, e.g. induced by abatement policy, that increases aggregate supply and thus cumulative emissions. We prove this green paradox for a general model and then apply it to...
Persistent link: https://www.econbiz.de/10012861409
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Carbon Prices are Redundant in the 2030 EU Climate and Energy Policy Package
Aune, Finn Roar - 2019
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...
Persistent link: https://www.econbiz.de/10012892222
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What Can We Learn from EU ETS?
Vollebergh, Herman R.J. - 2020
This paper discusses lessons that other regions could learn from European Union's effort to implement carbon pricing through EU Emission Trading System (EU ETS). Our lessons are, first of all, that a cap-and-trade system like EU ETS is very helpful in guaranteeing a credible and binding...
Persistent link: https://www.econbiz.de/10012836008
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EU ETS and the New Green Paradox
Rosendahl, Knut Einar - 2019
With the new rules of the EU ETS, involving cancellation of allowances, cumulative emissions are no longer fixed but depending on the market outcome. Perino (2018) showed that additional abatement effort can reduce cumulative emissions if it occurs within a few years. This article shows that...
Persistent link: https://www.econbiz.de/10012866399
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Effects of Carbon Pricing and Other Climate Policies on CO 2 Emissions
Kohlscheen, Emanuel; Moessner, Richhild; Takats, Elod - 2021
We provide ex-post empirical analysis of the effects of climate policies on carbon dioxide emissions at the aggregate national level. Our results are based on a comprehensive database of 121 countries. As climate policies we examine carbon taxes and emissions trading systems (ETS), as well as...
Persistent link: https://www.econbiz.de/10013323969
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Will the Centralisation of Carbon Pricing Revenue in the EU Lead to Laxer Climate Policy?
Fuest, Clemens; Meier, Volker - 2021
We analyse the economic impact of using carbon pricing revenue to fund the EU budget. Such a reform would redistribute from countries with above average carbon intensive production to less carbon intensive countries. Once the reform is implemented, the low carbon countries will prefer a lower...
Persistent link: https://www.econbiz.de/10013235113
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Rules vs. Discretion in Cap-and-Trade Programs : Evidence from the EU Emission Trading System
Friedrich, Marina; Fries, Sébastien; Pahle, Michael; … - 2021
Long-term commitment is crucial for the dynamic efficiency of intertemporal cap-and-trade programs. Discretionary interventions in such programs could destabilize the market, and necessitate subsequent corrective interventions that instigate regulatory instability (Kydland and Prescott, 1977)....
Persistent link: https://www.econbiz.de/10013315149
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The COVID-19 Pandemic and European Trade Flows : Evidence from a Dynamic Panel Model
Caporale, Guglielmo Maria; Sova, Anamaria; Sova, Robert - 2022
This paper investigates the impact of the Covid-19 pandemic on trade flows in the case of the European countries. First, an ARDL dynamic panel model is estimated using the PMG method to analyse monthly data covering the most recent period (2019M1-2021M12); then, the GMM and PCSE approaches are...
Persistent link: https://www.econbiz.de/10014080051
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The Effects of the COVID-19 Pandemic on Stock Markets, CDS and Economic Activity : Time-Varying Evidence from the US and Europe
Caporale, Guglielmo Maria; Catik, Abdurrahman Nazif; … - 2021
This paper examines the effects of the COVID-19 pandemic on stock returns, CDS and economic activity in the US and the five European countries (the UK, Germany, France, Italy, and Spain) which have been most affected. The sample period covers the dates from the first confirmed COVID-19 cases in...
Persistent link: https://www.econbiz.de/10013211119