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dc.contributor.authorBöhringer, Christophen
dc.contributor.authorLange, Andreasen
dc.date.accessioned2009-02-16T15:12:37Z-
dc.date.available2009-02-16T15:12:37Z-
dc.date.issued2003-
dc.identifier.urihttp://hdl.handle.net/10419/24811-
dc.description.abstractTo meet its commitment under the Kyoto Protocol, the EU plans to implement an emissions trading system with grandfathering of allowances. Besides having distributional impacts, the choice of the grandfathering scheme may affect efficiency if firms anticipate how future allocations depend on upcoming decisions. In this paper, we determine central design rules for optimal grandfathering within a simple two-period model. We find that for (small) open trading systems, where allowance prices are exogenous, first-best second-period grandfathering schemes must not depend on firm-specific decisions in the first period. Second-best schemes correspond to a Ramsey rule of optimal tax differentiation and are generally based on both previous emissions and output. However, of closed emissions trading systems, i.e. endogeneous allowance prices, first- and second-best rules coincide and must not depend on previous output levels. They consist of an assignment proportional to the emissions in the first period plus a term which does not depend on firm-specific decisions in either of the two periods.en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x03-08en
dc.subject.jelQ28en
dc.subject.ddc330en
dc.subject.keywordemissions tradingen
dc.subject.keywordgrandfatheringen
dc.subject.keywordefficiencyen
dc.subject.stwKlimaschutzen
dc.subject.stwUmweltzertifikaten
dc.subject.stwIndustriepolitiken
dc.subject.stwAllokationseffizienzen
dc.subject.stwTheorieen
dc.subject.stwgrandfathering provisionen
dc.titleOn the Design of Optimal Grandfathering Schemes for Emission Allowances-
dc.typeWorking Paperen
dc.identifier.ppn856466263en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:909en

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