The European emissions trading scheme (EU-ETS) for CO2 is the largest existing emissions trading scheme in the world. The main reason for the implementation of this scheme is to reach the European Kyoto targets at minimal cost and to establish a price for emissions. The right to emit CO2...

Bei den deutschen Treibhausgasemissionen außerhalb des Europäischen Emissionshandelssystems (EU ETS) verlaufen Reduktionen schleppend, obwohl eine Vielzahl von Instrumenten und erhebliche finanzielle Mittel zur Anwendung kommen. Die Autoren empfehlen daher dem deutschen Klimakabinett,...

In this paper we empirically investigate potential determinants of allowance (EUA) price dynamics in the European Union Emission Trading Scheme (EU ETS) during Phase II. In contrast to previous papers, we analyze a significantly longer time series, place particular emphasis on the importance of...

Since 2005, the EU ETS has provided a market-based price signal for European carbon emissions, accompanied by increasing economic research related to this policy instrument. In this paper, we carry out a review of the empirical literature examining allowance price formation. A consensus has...

Bei den deutschen Treibhausgasemissionen außerhalb des Europäischen Emissionshandelssystems (EU ETS) verlaufen Reduktionen schleppend, obwohl eine Vielzahl von Instrumenten und erhebliche finanzielle Mittel zur Anwendung kommen. Die Autoren empfehlen daher dem deutschen Klimakabinett,...

In the European Union (EU), a second emissions trading system (EU ETS2) covering buildings, road transport and small energy and industrial installations is expected to be introduced from 2027. Until 2030, however, EU ETS2 will not be a separate pillar of EU climate policy, but will support...

There are many choices within the design of an emissions trading system. In this paper we focus on one specific aspect – the point of regulation for the energy sector. This choice affects transaction costs; comprehensiveness, and hence the amount of emissions covered and the extent to which...