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What drives the European carbon market? Macroeconomic factors and forecasts
Bastianin, Andrea; Mirto, Elisabetta; Qin, Yan; … - 2024
Putting a price on carbon - with taxes or developing carbon markets - is a widely used policy measure to achieve the target of net-zero emissions by 2050. This paper tackles the issue of producing point, direction-of-change, and density forecasts for the monthly real price of carbon within the...
Persistent link: https://www.econbiz.de/10014548224
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The Impact of the European Carbon Market on Firm Productivity: Evidence from Italian Manufacturing Firms
D'Arcangelo, Filippo Maria; Pavan, Giulia; Calligaris, Sara - 2022
The European Union Emissions Trading System has raised concerns about possible detrimental effects on firms production through an increase in polluting costs, unless firms change inputs or increase the efficiency in the way they produce. We provide evidence of the causal impact of this policy on...
Persistent link: https://www.econbiz.de/10013470515
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Environmental Policy and Investment Location: The Risk of Carbon Leakage in the EU ETS
D'Arcangelo, Filippo Maria; Galeotti, Marzio - 2022
This paper empirically investigates the effect of the European Emission Trading Scheme (EU ETS) on cross-country investments. To avoid carbon leakage, the scheme allocates a number of free allowances to firms at risk of relocating investments in areas outside the EU ETS. To study this problem,...
Persistent link: https://www.econbiz.de/10013470518
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The EU ETS and firm profits: An ex-post analysis for Swedish energy firms
Yu, Haisan - 2011
In January, 2005, the EU launched the first international emissions trading system (EU ETS), aimed at reducing carbon emissions in a cost-effective way by means of a market-based instrument. In this paper, we use the treatment/control, before/after design of the natural experiment approach to...
Persistent link: https://www.econbiz.de/10010321465
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Environmental policy under ambiguity
Vinokur, Leon - 2009
The aim of this paper is to extend existing literature on carbon allowance allocation, investigating the impact of … decrease in the total output. An output-based allocation model in Cournot Oligopoly will be used. We will adopt the National … Allocation Plan (NAP) of UK for the Second Phase (2005-07) as a case study. …
Persistent link: https://www.econbiz.de/10010280749
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The capital gains tax: A curse but also a blessing for venture capital investment
Achleitner, Ann-Kristin; Bock, Carolin; Watzinger, Martin - 2011
This article documents a statistical association between the number and success of venture capital investments and the capital gains tax rate. To do this, we analyze investment data and taxes of 32 countries from 2000 to 2010. In our data, higher capital gains tax rates are associated with fewer...
Persistent link: https://www.econbiz.de/10010306865
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The Equity Trap, the Cost of Capital and the Firm´s Growth Path
Lindhe, Tobias; Södersten, Jan - 2006
This paper reconsiders Sinn's (1991) nucleus theory of the corporation by comparing two different regimes for the equity trap. In the first of these, all cash paid to the shareholders is taxed as dividends, in the second, shareholders are allowed a tax-free return of capital contributed through...
Persistent link: https://www.econbiz.de/10010321558
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Economic Effects of Taxing Different Organizational Forms under a Dual Income Tax
Lindhe, Tobias; Södersten, Jan; Öberg, Ann - 2003
This paper analyzes the economic effects of different income splitting rules for closely held corporations and sole proprietorships/partnerships in a tax system with a dual income tax. We conclude that the tax rules for closed corporations offer roughly the same cost of capital as for widely...
Persistent link: https://www.econbiz.de/10010321596
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Mitigating Double Taxation in an Open Economy
Lindhe, Tobias - 2001
The interaction of various methods of mitigating economic and international double taxation of corporate source income is studied within a standard neoclassical model of firm behavior. The main purpose is to determine to what extent methods effective in mitigating economic double taxation in a...
Persistent link: https://www.econbiz.de/10010321707
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Economic Effects of Taxing Closed Corporations under a Dual Income Tax
Lindhe, Tobias; Södersten, Jan; Öberg, Ann - 2001
to be neutral in its impact on the allocation of resources between closely and widely held corporations, and the cost of …
Persistent link: https://www.econbiz.de/10010321734