We examine the impact of a disclosure mandate for greenhouse gas emissions on firms’ subsequent emission levels and financial operating performance. For UK-incorporated listed firms a carbon disclosure mandate was adopted in 2013. Our difference-in-differences design shows that firms affected...

We evaluate German purchase subsidies for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) using data on new vehicle registrations in Germany during 2015-2022. We account for confounding time trends and interacting EU-level CO2 standards using neighboring countries...

In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight...

The creation of the EU's Emission Trading Scheme (EU ETS) has turned the right to emit CO2 into a positively priced intermediate good for the affected firms. Firms thus face the decision whether to source compliance with the EU ETS within their boundaries or to acquire it through the permit...

The German economy continues to recover, and will grow by 2.2 percent in 2015 and by 1.9 percent in 2016. The unemployment rate will further decline, to 6.4 percent this year and 6.1percent in 2016. Inflation, which averages 0.5 percent this year, will be substantially dampened by the slump in...

Die deutsche Wirtschaft erholt sich weiter und wird in diesem Jahr wohl um 2,2 Prozent wachsen. Bei etwas schwächeren Zuwächsen beträgt das Plus im kommenden Jahr 1,9 Prozent. Im Zuge der günstigen konjunkturellen Entwicklung wird die Arbeitslosenquote weiter sinken, auf 6,4 Prozent in...

The existence of some 2 billion unused EU Allowances (EUAs) at the end of Phase II of the EU s Emissions Trading System (EU ETS) has sparked considerable debate about structural shortcomings of the EU ETS. However, there has been a surprising lack of interest in considering the accumulation of...

The EU's Emissions Trading System (EU ETS) is a regional cap-and-trade program in a world with no binding international climate agreement. This climate regulation may induce a relocation of production away from Europe, with potentially negative consequences for the European economy. This...

The EU Emissions Trading System (EU ETS) is the cornerstone of the European Union's climate policy and covers just under half of the EU's greenhouse gas emissions. More than ten years since the EU ETS was first introduced, there continues to be substantial research interest regarding its...