The Impact of Carbon Trading on Industry: Evidence from German Manufacturing Firms

Ulrich Wagner and Sebastian Petrick

VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association

Abstract: We estimate the causal impact of the EU Emissions Trading Scheme on manufacturing firms using comprehensive panel data from the German production census. Semiparametric matching estimators yield robust evidence that the policy caused treated firms to abate one fifth of their CO2 emissions between 2007 and 2010, relative to non-treated fi rms. This reduction was achieved predominantly by improving energy efficiency and by curbing the consumption of natural gas and petroleum products, but not electricity use. We find no evidence that emissions trading lowered employment, turnover or exports of treated fi rms.

JEL-codes: D22 Q52 Q54 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-ene, nep-env and nep-reg
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Citations: View citations in EconPapers (128)

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Working Paper: The impact of carbon trading on industry: Evidence from German manufacturing firms (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc14:100472

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