We use historical industrial emissions data to assess the level of abatement and overallocation that took place across European countries during the pilot phase (2005-2007)of the European Union Emission Trading Scheme. Using a dynamic panel data model, we estimate the counterfactual...

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...

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...

We use a panel dataset of about 5,000 Lithuanian firms between 2003 and 2010, to assess the impact of the EU ETS on the environmental and economic performance of participating firms. Using a matching methodology, we are able to estimate the causal impact of EU ETS participation on CO2 emissions,...