期刊
ENERGY ECONOMICS
卷 49, 期 -, 页码 531-539出版社
ELSEVIER
DOI: 10.1016/j.eneco.2015.03.014
关键词
Climate policy; Emissions Trading System; Panel data analysis; Verified emission data
类别
资金
- Spanish Government [ECO2012-38004]
- Catalan Government [SGR2014-325]
- ICREA-Academia of the Catalan Government
In this study we use historical emission data from installations under the European Union Emissions Trading System (EU ETS) to evaluate the impact of this policy on greenhouse gas emissions during the first two trading phases (2005-2012). As such the analysis seeks to disentangle two causes of emission abatement: that attributable to the EU ETS and that attributable to the economic crisis that hit the EU in 2008/09. To do so, we use a dynamic panel data approach. Our results suggest that, by far, the biggest share of abatement was attributable to the effects of the economic crisis. This finding has serious implications for future policy adjustments affecting core elements of the EU ETS, including the distribution of EU emission allowances. (C) 2015 Elsevier B.V. All rights reserved.
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