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Persistent link: https://www.econbiz.de/10011527471
This article constitutes a new contribution to the analysis of overlapping instruments to cover the same emission sources. Using both an analytical and a numerical model, we show that when the risk that the CO2 price drops to zero and the political unavailability of a CO2 tax (at least in the...
Persistent link: https://www.econbiz.de/10013089296
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Most CO2 abatement policies reduce the demand for fossil fuels and therefore their price in international markets. If these policies are not global, this price decrease raises emissions in countries without CO2 abatement policies, generating “carbon leakage”. On the other hand, if the...
Persistent link: https://www.econbiz.de/10014185851
We analyze the price dynamics of European allowances and international carbon credits in the second phase of the European carbon market. We develop and use a model combining fundamental drivers associated with the demand for quotas by installations and risk-return considerations related to the...
Persistent link: https://www.econbiz.de/10013029514
The Kyoto Protocol on climate change allocates tradable quotas to developed countries, but let them free to choose the means to respect their quota. There are good reasons for a country not to control its firms through internationally tradable permits. We thus compare a tax and purely domestic...
Persistent link: https://www.econbiz.de/10011335728
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alongside with the EU ETS. Although more analysis is required on some issues, on others some design options seem clearly …, this obligation should apply when the exported product is registered at the EU border, and not after the end of the year as …
Persistent link: https://www.econbiz.de/10013144451
We assess five proposals for the future of the EU greenhouse gas Emission Trading Scheme (ETS): pure grandfathering … model of the EU 27 featuring three sectors covered by the EU ETS - cement, steel and electricity - plus the aluminium sector … over the decrease in EU emissions, ranges from around 8% under GF and AU to -2% under AU-BA and varies greatly among …
Persistent link: https://www.econbiz.de/10014212871