This paper measures the transaction costs incurred by Irish firms under the European Union's CO2 Emissions Trading Scheme (EU ETS) during its pilot phase (2005 - 2007). Our analysis provides evidence that such costs were mainly administrative in nature. We emphasize the existence of sizeable...

We use historical industrial emissions data to assess the level of abatement and overallocation that took place across European countries during the pilot phase (2005-2007)of the European Union Emission Trading Scheme. Using a dynamic panel data model, we estimate the counterfactual...

Pricing Carbon The European Union Emissions Trading Scheme Principal authors ^ A. DENNY ELLERMAN Massachusetts Institute of Technology FRANK J. CONVERY University College Dublin CHRISTIAN DE PERTHUIS Mission Climat of the Caisse des Depots and University...