Strategic market behavior by permit sellers will harm the European Union as the EU as a whole is expected to become a … large net buyer of permits in a follow-up agreement to the Kyoto Protocol. In this paper we explore how the EU could benefit … from making permit trade agreements with non-EU countries. These trade agreements involve a minimum permit sales …

This paper applies different copulas in order to investigate the complex dependence structure between EU emission …

This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as … adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to EU ETS. We use a dynamic … at the EU Member State level. We find that both a variable carbon tax and an auction reserve price support effective …

programme. A reform of the EU ETS intends to make allowances allocation exible and contingent on the state of the system. We …'s decision-making in the context of the EU ETS reform and give a novel perspective on the mechanism's overall design. …

obtain more free allowances in the EU Emissions Trading Scheme. While ALTs were introduced in order to reduce excess free …. In 2012, ALTs induced 6.4Mt of excess clinker production (5% of total EU output), which corresponds to 5.8Mt of excess CO … increased EU clinker and cement exports, production shifting between plants and also an increase in clinker content of cement …

physical settlement during the second market phase of the EU ETS. We employ a series of estimation methods that allow for an …

Because of a link between the EU ETS and the Kyoto Flexible Mechanisms, the emission certificates traded on these … spread using a theoretical model that combines three features: A binding limit for the use of Kyoto offsets within the EU ETS … informational frictions governing the use of offsets within the EU ETS. …