The environmental and economic effects of European emissions trading
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
Standard
in: Climate Policy, Jahrgang 6, Nr. 4, 01.01.2006, S. 441-455.
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
Harvard
APA
Vancouver
Bibtex
}
RIS
TY - JOUR
T1 - The environmental and economic effects of European emissions trading
AU - Kemfert, Claudia
AU - Kohlhaas, Michael
AU - Truong, Truong
AU - Protsenko, Artem
N1 - Funding Information: 1 Communication from the Commission to the Council and the European Parliament on EU policies and measures to reduce greenhouse gas emissions: Towards a European Climate Change Programme (ECCP), Com(2000)88 final.
PY - 2006/1/1
Y1 - 2006/1/1
N2 - In this article, we analyse the effects of emissions trading in Europe, with special reference to Germany. We look at the value of the flexibility gained by trading compared to fixed quotas. The analysis is undertaken with a modified version of the GTAP-E model using the latest GTAP version 6 database. It is based on the national allocation plans (NAP) as submitted to and approved by the EU. We find that, in a regional emissions trading scheme, Germany, Great Britain and the Czech Republic are the main sellers of emissions permits, while Belgium, Denmark, Finland and Sweden are the main buyers. The welfare gains from regional emissions trading—for the trading sectors only—are largest for Belgium, Denmark and Great Britain; smaller for Finland and Sweden, and smallest for Germany and other regions. When we take into account the economy-wide and terms-of-trade effects of emissions trading, however, (negative) terms-of-trade effects can offset the (positive) allocative efficiency gains for the cases of the Netherlands and Italy, while all other regions end up with positive net welfare gains. All regions, however, experienced increases in real GDP as a result of regional emissions trading.
AB - In this article, we analyse the effects of emissions trading in Europe, with special reference to Germany. We look at the value of the flexibility gained by trading compared to fixed quotas. The analysis is undertaken with a modified version of the GTAP-E model using the latest GTAP version 6 database. It is based on the national allocation plans (NAP) as submitted to and approved by the EU. We find that, in a regional emissions trading scheme, Germany, Great Britain and the Czech Republic are the main sellers of emissions permits, while Belgium, Denmark, Finland and Sweden are the main buyers. The welfare gains from regional emissions trading—for the trading sectors only—are largest for Belgium, Denmark and Great Britain; smaller for Finland and Sweden, and smallest for Germany and other regions. When we take into account the economy-wide and terms-of-trade effects of emissions trading, however, (negative) terms-of-trade effects can offset the (positive) allocative efficiency gains for the cases of the Netherlands and Italy, while all other regions end up with positive net welfare gains. All regions, however, experienced increases in real GDP as a result of regional emissions trading.
KW - Economics
KW - Computational general equilibrium
KW - Economic assessment
KW - European emissions trading
UR - http://www.scopus.com/inward/record.url?scp=34249688639&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/f21f1269-e31e-3a28-9bbe-9002d4b4b9d5/
U2 - 10.1080/14693062.2006.9685612
DO - 10.1080/14693062.2006.9685612
M3 - Journal articles
AN - SCOPUS:34249688639
VL - 6
SP - 441
EP - 455
JO - Climate Policy
JF - Climate Policy
SN - 1469-3062
IS - 4
ER -