This paper is a first attempt to empirically measure transaction costs – a composite of administrativecosts and trading costs – of firms in the European Union's CO2 Emissions Trading Scheme (EU ETS)during its trial phase (2005-2007). This analysis provides some evidence that transaction...

In this paper, we have surveyed the effects of European climate change policy on European economies and societies, and analyzed them empirically. The paper consists of four parts. Namely, 1) a survey of ex-ante studies and ex-post literatures on the cost assessments of European Union Emissions...

This paper measures the transaction costs incurred by Irish firms under the European Union's CO2 Emissions Trading Scheme (EU ETS) during its pilot phase (2005 - 2007). Our analysis provides evidence that such costs were mainly administrative in nature. We emphasize the existence of sizeable...