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How Does the EU ETS Reform Impact Allowance Prices? The Role of Myopia, Hedging Requirements and the Hotelling Rule
Bocklet, Johanna; Hintermayer, Martin - 2020
This paper uses a discrete-time partial equilibrium model of the European Emissions Trading System (EU ETS) to analyze the impact of the recent reform on allowance prices. By including bounded rationality such as myopia or hedging requirements, we find that the Hotelling price path is no longer...
Persistent link: https://www.econbiz.de/10012314866
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Pass-through of CO2 Emission Costs to Hourly Electricity Prices in Germany
Hintermann, Beat - 2014
is no economic reason for free allowance allocation to the electricity sector, and thus validate the updated allocation …
Persistent link: https://www.econbiz.de/10010420725
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Lifestyle Taxes in the Presence of Profit Shifting
Levaggi, Rosella; Marchiori, Carmen; Panteghini, Paolo - 2020
Non-communicable diseases (NCDs) cause about 71% of all deaths globally and a considerable increase in health care costs. To tackle this problem, several Governments have designed "sin taxes", i.e, extra payments related to the quantity of unhealthy contents of specific goods. However, unhealthy...
Persistent link: https://www.econbiz.de/10012207903
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Disposal of Petroleum Installations - Major Policy Issues
Osmundsen, Petter; Tveterås, Ragnar - 2000
Following the Brent Spar controversy, the OSPAR countries reached a unanimous agreement in 1998 for the future rules for disposal of petroleum installations. The vast majority of existing offshore installations will be re-used or returned to shore for recycling or disposal. For installations...
Persistent link: https://www.econbiz.de/10010314916
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Lifestyle Taxes in the Presence of Profit Shifting
Levaggi, Rosella - 2020
Non-communicable diseases (NCDs) cause about 71% of all deaths globally and a considerable increase in health care costs. To tackle this problem, several Governments have designed "sin taxes", i.e, extra payments related to the quantity of unhealthy contents of specific goods. However, unhealthy...
Persistent link: https://www.econbiz.de/10012839851
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Self-Enforcing Intergenerational Social Contract as a Source of Pareto Improvement and Pollution Mitigation
Dao, Thang; Burghaus, Kerstin; Edenhofer, Ottmar - 2016
mitigation. We consider, in a general equilibrium overlapping generations (OLG) model with environmental externalities, a … income in pollution mitigation in exchange for a transfer to their old-age capital income paid by the next generation. We … minimum level of income and we characterize the set of Pareto-improving mitigation-transfer combinations. Nash bargaining …
Persistent link: https://www.econbiz.de/10011480479
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EU ETS, Free Allocations and Activity Level Thresholds - The Devil Lies in the Detail
Branger, Frédéric; Ponssard, Jean-Pierre; Sartor, Oliver - 2015
allocation to low-activity installations, for installations operating below the threshold, the financial gain from increasing …) relative to a scenario without ALTs, but this gain is small compared to an output based allocation method, which would further … reduce overallocation by 40 million allowances (29% of total cement sector free allocation). Firms responded …
Persistent link: https://www.econbiz.de/10011307060
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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/10012052751
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Explaining the EUA-CER Spread
Gronwald, Marc; Hintermann, Beat - 2016
Because of a link between the EU ETS and the Kyoto Flexible Mechanisms, the emission certificates traded on these markets are in principle interchangeable assets; despite of this, a persistent price difference exists. We explain this price spread using a theoretical model that combines three...
Persistent link: https://www.econbiz.de/10011451404
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Overlapping Efforts in the EU Emission Trading System
Herweg, Fabian - 2020
According to the Phase IV (2021-2030) rules of the EU ETS, the total amount of emissions permits allocated to firms is not fixed but endogenous. This implies that a national climate policy that overlaps with the emission trading system can have an impact on total aggregate emissions. Roughly...
Persistent link: https://www.econbiz.de/10012207893