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Cost-effectiveness of Emissions Trading Schemes
Project funded by own resources
Project title Cost-effectiveness of Emissions Trading Schemes
Principal Investigator(s) Hintermann, Beat
Co-Investigator(s) Picard, Léo
Project Members Zarkovic, Maja
Organisation / Research unit Departement Wirtschaftswissenschaften / Public Economics / Public Finance (Hintermann)
Project start 01.10.2019
Probable end 31.12.2023
Status Completed
Abstract

The use of price instruments is often advocated by economists, based on their ability to bring about marginal abatement cost equalisation, and hence to achieve targets at least cost. We use the EU ETS as a case study and test this theoretical prediction. We parametrically estimate separate enhanced hyperbolic distance functions for various industries of the German manufacturing sector and are therefore able to compute the shadow value of CO2 emissions.
We are the first to provide firm-level estimates of the marginal cost of CO2 emissions using confidential administrative data for German manufacturing firms between 2005 and 2014. This allows for an unprecedented insight into the cost of the EU flagship climate policy for manufacturing firms. We are able to describe the evolution of the abatement costs over time and across industries, tracking the impact of changes in the policy design and its stringency on the behaviour of the firms in our panel. Our findings provide valuable information for policy makers in the European Union and beyond on the actual level of the costs imposed by climate change policy, and its distributional impacts across firms and industries.

Financed by University funds
Follow-up Project of... 3242117 Measuring the effectiveness and efficiency of the European Union Emissions Trading Scheme

Published results ()

  ID Autor(en) Titel ISSN / ISBN Erschienen in Art der Publikation
4607187  Di Maria, Corrado; Zarkovic, Maja; Hintermann, Beat  Are Emissions Trading Schemes Cost-effective?      Publication: Discussion paper / Internet publication 

Cooperations ()

  ID Kreditinhaber Kooperationspartner Institution Laufzeit - von Laufzeit - bis
4493248  Hintermann, Beat  Di Maria, Corrado, Associate Professor  University of East Anglia  01.11.2015  31.12.2023 
   

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