@article{Klepper2004emissions,
abstract = {The upcoming European Emissions Trading Scheme (ETS) is one of the more
controversial climate policy instruments. Predictions about its likely impact and
its performance can at present only be made to a certain degree. As long as
the National Allocations Plans are not finally settled the overall supply of
allowances is not determined. In this paper, we will identify key features and
key impacts of the EU ETS by scanning the range of likely allocation plans
using the simulation model DART. The analysis of the simulation results
highlights a number of interesting details in terms of allowance trade flows
between Member States, of allowance prices, and in terms of the role of the
accession countries in the ETS. An important finding about the impact of the
new ETS with respect to achieving emission reductions more efficiently, i.e. at
lower cost, is that savings can only be realized if the cap on emissions is
distributed between the ETS sector and the rest of the economy in such a way
that the different abatement costs are taken into account. This would imply a
relatively small allocation of emissions to the ETS sector. The second
important result concerns the role of the accession countries. Even if they do
not supply their hot-air in the ETS market, they contribute substantially to the
cost savings of the ETS by offering low cost abatement options.},
author = {Gernot Klepper and Sonja Peterson},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
issn = {0961-0405},
journal = {European environment},
keywords = {Q48; F18; D58; Q54; 330; EU emissions trading scheme , permit allocation , Kyoto targets , computable general equilibrium model , DART; Klimaschutz; Emissionsrechte; Preis; Allgemeines Gleichgewicht; Simulation; EU-Staaten},
language = {eng},
number = {4},
pages = {201-218},
title = {The EU emissions trading scheme allowance prices, trade flows and competitiveness effects},
url = {http://hdl.handle.net/10419/3270},
volume = {14},
year = {2004}
}
