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dc.contributor.authorAlexeeva-Talebi, Victoriaen
dc.date.accessioned2010-12-03T08:57:16Z-
dc.date.available2010-12-03T08:57:16Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/42212-
dc.description.abstractThis paper explores the ability of European refineries to pass-through costs associated with the introduction of the EU Emissions Trading Scheme (EU ETS). We estimated a sequence of vector error correction models (VECM) within a multi-national setting which covers 14 EU member states. Using weekly data at the country level, this paper finds a significant influence of prices for European Union Allowances (EUAs) on unleaded petrol retail prices during the trial phase of the EU ETS from 2005 to 2007. Petrol prices are found to be elastic with respect to crude oil prices and exchange rates but rather inelastic with respect to carbon costs. The long-run elasticity of petrol prices with respect to the EUA prices typically ranges between 0.01% and 0.09%. Furthermore, by computing the variance decomposition our analysis shows that a significant fraction of petrol price changes in Austria, Germany, France and Spain can be explained by changes in allowances prices (between 10% and 20%).en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x10-086en
dc.subject.jelF18en
dc.subject.jelC22en
dc.subject.jelL11en
dc.subject.ddc330en
dc.subject.keywordCost Pass-Throughen
dc.subject.keywordEmissions Trading Schemeen
dc.subject.keywordRefineriesen
dc.subject.stwEmissionshandelen
dc.subject.stwUmweltschutzkostenen
dc.subject.stwBetriebliche Preispolitiken
dc.subject.stwErdölraffinerieen
dc.subject.stwBenzinen
dc.subject.stwPreiselastizitäten
dc.subject.stwSchätzungen
dc.subject.stwEU-Staatenen
dc.titleCost pass-through of the EU emissions allowances: Examining the European petroleum markets-
dc.type|aWorking Paperen
dc.identifier.ppn640255329en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:10086en

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