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A flexible CO2 targeting regime

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Author Info

  • Peter Karpestam

    ()
    (Lund University)

  • Fredrik NG Andersson

    ()
    (Lund University)

Abstract

According to EU regulations, CO2 emissions capped by the EU emission trading system must decline by 1.74 percent per year from 2013 and onwards. This paper argues that it is necessary to allow short term fluctuations in emissions in order to avoid unnecessary volatility in the real economy. An analysis of emissions data from the European Union and the United States reveals systematic fluctuations of some +/- 5 percent a year around the long run trend. Hence, the Emission Trading System (ETS) should be modified to better accommodate temporary variations in emissions.

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File URL: http://www.accessecon.com/Pubs/EB/2011/Volume31/EB-11-V31-I1-P29.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 31 (2011)
Issue (Month): 1 ()
Pages: 297-308

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Handle: RePEc:ebl:ecbull:eb-10-00328

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Related research

Keywords: CO2; policy; fluctuations.;

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Cited by:
  1. Andersson, Fredrik N.G. & Karpestam, Peter, 2013. "CO2 emissions and economic activity: Short- and long-run economic determinants of scale, energy intensity and carbon intensity," Energy Policy, Elsevier, vol. 61(C), pages 1285-1294.

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