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dc.contributor.authorHeindl, Peteren_US
dc.date.accessioned2012-03-16en_US
dc.date.accessioned2012-03-20T16:43:53Z-
dc.date.available2012-03-20T16:43:53Z-
dc.date.issued2012en_US
dc.identifier.piurn:nbn:de:bsz:180-madoc-322019-
dc.identifier.urihttp://hdl.handle.net/10419/56029-
dc.description.abstractIn this paper, transaction costs in the EU emissions trading scheme (EU ETS) are examined empirically based on survey data from German companies. Transaction costs from measurement, reporting and verification (MRV) of emissions, permit trading and general informational costs are considered. Transaction costs from MRV and permit trading are of non-linear form and dependent on annual emission and trading volumes based on OLS and nonparametric estimation. As a consequence of non-linear transaction costs, welfare losses occur compared to a first-best setup under zero transaction costs. In practice, smaller emitters will emit less (abate more) compared to larger emitters and vice versa due to economies of scale in the management of emissions trading. The results further imply that optimal firm size might be influenced by transaction costs in the EU ETS because of relatively high average transaction costs amongst smaller emitters. Overall annual transaction costs in the EU ETS in Germany are estimated to be EUR 8.7 million.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 12-021en_US
dc.subject.jelQ52en_US
dc.subject.jelH23en_US
dc.subject.jelD23en_US
dc.subject.ddc330en_US
dc.subject.keywordEmissions Tradingen_US
dc.subject.keywordTransaction Costsen_US
dc.subject.keywordEU ETSen_US
dc.titleTransaction costs and tradable permits: Empirical evidence from the EU emissions trading schemeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn688732356en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:zewdip:12021-
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ZEW Discussion Papers

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