The energy transition is a priority for the European Union, both in terms of reducing greenhouse gas emissions and reducing its dependence on imported fossil fuels. The European Union is at the forefront of the fight against climate change caused by greenhouse gas emissions. This article...

This paper tests the independence property under the Coase Theorem in a large multinational cap-and-trade scheme for greenhouse gas emissions, the EU Emissions Trading System (EU ETS). I analyze whether emissions of power producers regulated under the EU ETS are independent from allowance...

This paper provides an empirical test of the Coase Theorem. I analyze whether emissions are independent from allowance allocations in the electricity sector regulated under the EU's Emissions Trading System (EU ETS). Exogenous variation in levels of free allocation for power producing...