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dc.contributor.authorHeindl, Peteren
dc.date.accessioned2012-03-16-
dc.date.accessioned2012-03-20T16:43:53Z-
dc.date.available2012-03-20T16:43:53Z-
dc.date.issued2012-
dc.identifier.piurn:nbn:de:bsz:180-madoc-322019en
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
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x12-021en
dc.subject.jelQ52en
dc.subject.jelH23en
dc.subject.jelD23en
dc.subject.ddc330en
dc.subject.keywordEmissions Tradingen
dc.subject.keywordTransaction Costsen
dc.subject.keywordEU ETSen
dc.titleTransaction costs and tradable permits: Empirical evidence from the EU emissions trading scheme-
dc.typeWorking Paperen
dc.identifier.ppn688732356en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:12021en

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