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|dc.description.abstract||The upcoming European Emissions Trading Scheme (ETS) is one of the morecontroversial climate policy instruments. Predictions about its likely impact andits performance can at present only be made to a certain degree. As long asthe National Allocations Plans are not finally settled the overall supply ofallowances is not determined. In this paper, we will identify key features andkey impacts of the EU ETS by scanning the range of likely allocation plansusing the simulation model DART. The analysis of the simulation resultshighlights a number of interesting details in terms of allowance trade flowsbetween Member States, of allowance prices, and in terms of the role of theaccession countries in the ETS. An important finding about the impact of thenew ETS with respect to achieving emission reductions more efficiently, i.e. atlower cost, is that savings can only be realized if the cap on emissions isdistributed between the ETS sector and the rest of the economy in such a waythat the different abatement costs are taken into account. This would imply arelatively small allocation of emissions to the ETS sector. The secondimportant result concerns the role of the accession countries. Even if they donot supply their hot-air in the ETS market, they contribute substantially to thecost savings of the ETS by offering low cost abatement options.||en_US|
|dc.subject.keyword||EU emissions trading scheme , permit allocation , Kyoto targets , computable general equilibrium model , DART||en_US|
|dc.title||The EU emissions trading scheme allowance prices, trade flows and competitiveness effects||en_US|
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