This essay provides an overview of the major emissions trading programs of the past thirty years on which significant documentation exists, and draws a number of important lessons for future applications of this environmental policy instrument. References to a larger number of other emissions...

We analyze the energy market and ETS outcomes in Kazakhstan, a major fossil-fuel exporter. The energy market was characterized by the presence of large state-owned enterprises, prevalence of fossil fuel subsidies, and dominance of coal-fired generation. Despite the ETS, Kazakhstan's CO2...

We document that localized policies aimed at mitigating climate risk can have unintended consequences due to regulatory arbitrage by firms. Using a difference-in-differences framework to study the impact of the California cap-and-trade program with US plant level data, we show that financially...

Carbon leakage is an issue of major interest in both academic and policy debates about the effectiveness of unilateral climate policy addressing global externalities. The debate is particularly salient in Europe, where the EU Emissions TradingSystem (EU ETS) covers emissions of many traded...

We introduce a new microsimulation model built on household transport data to study the distributional effects of carbon-based fuel taxation of private road transport in Germany. Our data includes annual mileage at the car-level, the distinction between fuel types, as well as car-specific fuel...

One country that tries to reduce greenhouse gas emissions may fear that other countries get a competitive advantage and increase emissions ("leakage"). Estimates from computable general equilibrium (CGE) models such as Elliott et al (2010a,b) indicate that 15% to 25% of abatement might be offset...

Carbon-based border tax adjustments (BTAs) have recently been proposed by some OECD countries to level the carbon playing field and target major emerging economies. This paper applies a multi-sector dynamic computable general equilibrium (CGE) model to estimate the impacts of the BTAs...

This paper describes a model, implemented in an Excel spreadsheet, for evaluating a wide range of fiscal and regulatory instruments policymakers might consider for implementing their Paris mitigation pledges. Policies are evaluated against a range of metrics, including impacts on carbon dioxide...

Die deutsche Energiepolitik verfolgt zwei wesentliche Ziele, zum einen die Abkehr vom Atomstrom (Energiewende), zum anderen den Ausbau erneuerbarer Energien, um für das Klima gefährliche Treibhausgase einzusparen. Dabei kommen unterschiedliche Instrumente zum Einsatz, die sich teilweise...

This paper aims at characterizing the conditions of wind power deployment in order to infer a carbon price level that would provide wind power with comparable advantage over fossil fuel technologies as effective wind support policies. The analysis is conducted on Danish data from 2000 to 2010,...