Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/142282
Authors: 
Borghesi, Simone
Flori, Andrea
Year of Publication: 
2016
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 8.2016
Abstract: 
In this work, we investigate which countries have been more central during Phases I and II of the European Emission Trading Scheme (EU ETS) with respect to the different types of accounts operating in the system. We borrow a set of centrality measures from Network Theory's tools to describe how the structure of the system has evolved over time and to identify which countries have been in the core or in the periphery of the network. In doing this, we investigate by means of extensive partitions on the different types of accounts and transactions characterizing the EU ETS whether the role of intermediaries (approximated by Person Holding Accounts - PHAs) has affected the overall structure of the system. Preliminary findings over the period 2005-2012 suggest that PHAs have played a prominent role in the transaction of permits, heavily influencing the configuration of the system. This motivates further research on the impact of non-regulated entities in the EU ETS design.
Subjects: 
Emission Trading
EU ETS
European Union Transaction Log (EUTL) data
Account and Transaction Types
Network Analysis
Centrality Measures
JEL: 
C45
D85
L14
Q48
Q54
Q58
Document Type: 
Working Paper

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