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Emission abatement: Untangling the impacts of the EU ETS and the economic crisis

Germà Bel () and Stephan Joseph

Energy Economics, 2015, vol. 49, issue C, 531-539

Abstract: 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.

Keywords: Climate policy; Emissions Trading System; Panel data analysis; Verified emission data (search for similar items in EconPapers)
JEL-codes: O13 Q54 Q58 (search for similar items in EconPapers)
Date: 2015
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Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant

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