Higher Price, Lower Costs? Minimum Prices in the EU Emissions Trading Scheme
| Autor: | Sebastian Rausch, Jan Abrell, Hidemichi Yonezawa |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2017 |
| Předmět: |
General equilibrium theory
EU-Emissionshandel H23 Monetary economics Price floor Minimum price Econometrics Economics 050207 economics 050205 econometrics media_common Q52 05 social sciences Partitioned Environmental Regulation Allgemeines Gleichgewicht Emissions trading Q58 General equilibrium EU-Klimapolitik Partitioned regulation Kosten ddc:333.7 C68 Environmental regulation Marginal abatement cost Macroeconomics Economics and Econometrics Yield (finance) media_common.quotation_subject Emissions Trading Wirkungsanalyse Climate policy EU ETS 0502 economics and business ddc:330 Production (economics) media_common.cataloged_instance European union Price Floors Consumption (economics) 363: Umwelt- und Sicherheitsprobleme Natural resources energy and environment Verteilungswirkung EU-Staaten Welfare Preisregulierung General Equilibrium |
| Zdroj: | Economics Working Paper Series, 16/243 |
| Popis: | This paper examines the efficiency and distributional impacts of introducing a price floor in an emissions trading system (ETS) when environmental regulation is partitioned. We theoretically characterize the conditions under which a price floor enhances welfare. Using a multi-country multi-sector numerical general equilibrium model of the European carbon market, we find that moderate minimum price levels in the EU ETS can reduce the costs of EU climate policy by up to thirty percent and yield outcomes close to uniform carbon pricing. Moreover, most of the EU Member States would gain. Our results are robust with respect to parametric uncertainty in production and consumption technologies. September 2017 |
| Databáze: | OpenAIRE |
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