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The Legal and Economic Case for an Auction Reserve Price in the EU Emissions Trading System
Fischer, Carolyn - 2020
reserve price that would set a minimum price in allowance auctions. Opponents of an auction reserve price in the EU ETS have … expressed concern that a minimum auction price would interfere with economic operations in the market or would be tantamount to … and legal arguments for and against an auction reserve price. Our economic analysis concludes that an auction reserve …
Persistent link: https://www.econbiz.de/10012847075
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Carbon Policy and the Emissions Implications of Electric Vehicles
Gillingham, Kenneth; Ovaere, Marten; Weber, Stephanie - 2021
Will a carbon tax improve the welfare consequences of policies to promote electric vehicles? This paper examines when a complementarity could exist between carbon pricing and high electric vehicle adoption. We analyze electricity generation in recent years to show that in several regions, carbon...
Persistent link: https://www.econbiz.de/10013234915
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Curbing Price Fluctuations in Cap-and-Trade Auctions
Jeitschko, Thomas D.; Pal, Pallavi - 2021
fluctuations in prices. In this paper, we examine the dynamic auction design and propose a method to curb price volatility through …
Persistent link: https://www.econbiz.de/10013214329
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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/10012840226
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Phase-Out of 'Coal to Power' in an Ets
Eichner, Thomas - 2019
We investigate the displacement effects of phase-out-of-coal policies in a stylized model of electricity generation and CO2 regulation, in which a group of countries operates an emissions trading scheme (ETS). Electricity markets are either international or national and the emissions cap remains...
Persistent link: https://www.econbiz.de/10012890195
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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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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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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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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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Smart Hedging against Carbon Leakage
Böhringer, Christoph - 2019
Policy makers in the EU and elsewhere are concerned that unilateral carbon pricing induces carbon leakage through relocation of emission-intensive and trade-exposed industries to other regions. A common measure to mitigate such leakage is to combine an emission trading system (ETS) with...
Persistent link: https://www.econbiz.de/10012859992