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dc.contributor.authorAlexeeva-Talebi, Victoriaen_US
dc.date.accessioned2010-12-03T08:57:16Z-
dc.date.available2010-12-03T08:57:16Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/42212-
dc.description.abstractThis paper explores the ability of European refineries to pass-through costs associated with the introduction of the EU Emissions Trading Scheme (EU ETS). We estimated a sequence of vector error correction models (VECM) within a multi-national setting which covers 14 EU member states. Using weekly data at the country level, this paper finds a significant influence of prices for European Union Allowances (EUAs) on unleaded petrol retail prices during the trial phase of the EU ETS from 2005 to 2007. Petrol prices are found to be elastic with respect to crude oil prices and exchange rates but rather inelastic with respect to carbon costs. The long-run elasticity of petrol prices with respect to the EUA prices typically ranges between 0.01% and 0.09%. Furthermore, by computing the variance decomposition our analysis shows that a significant fraction of petrol price changes in Austria, Germany, France and Spain can be explained by changes in allowances prices (between 10% and 20%).en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 10-086en_US
dc.subject.jelF18en_US
dc.subject.jelC22en_US
dc.subject.jelL11en_US
dc.subject.ddc330en_US
dc.subject.keywordCost Pass-Throughen_US
dc.subject.keywordEmissions Trading Schemeen_US
dc.subject.keywordRefineriesen_US
dc.subject.stwEmissionshandelen_US
dc.subject.stwUmweltschutzkostenen_US
dc.subject.stwBetriebliche Preispolitiken_US
dc.subject.stwErdölraffinerieen_US
dc.subject.stwBenzinen_US
dc.subject.stwPreiselastizitäten_US
dc.subject.stwSchätzungen_US
dc.subject.stwEU-Staatenen_US
dc.titleCost pass-through of the EU emissions allowances: Examining the European petroleum marketsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn640255329en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:zewdip:10086-
Appears in Collections:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

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