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Title:The Efficiency Costs of Separating Carbon Markets Under the EU Emissions Trading Scheme: A Quantitative Assessment for Germany PDF Logo
Authors:Böhringer, Christoph
Hoffmann, Tim
de Lara Peñate, Casiano Manrique
Issue Date:2005
Series/Report no.:ZEW Discussion Papers 05-06
Abstract:From 1 January 2005 onwards the European Union has launched the first largescale international carbon emissions trading program. As the EU Emissions Trading Scheme (EU-ETS) covers only part of domestic carbon emissions, it implies a hybrid environmental regulation scheme: Each EU Member State must specify additional domestic abatement policies for the sectors that are not covered by the emissions trading scheme in order to meet its emissions budget under the EU Burden Sharing Agreement. Based on numerical simulations for Germany, we illustrate the efficiency drawback of hybrid carbon regulation which becomes particularly relevant when distributional constraints of the current EU-ETS design are taken into account.
Subjects:emissions trading
hybrid regulation
National Allocation Plans
JEL:H21
Q48
D61
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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