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The Efficiency Costs of Separating Carbon Markets Under the EU Emissions Trading Scheme: A Quantitative Assessment for Germany

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Author Info

  • Böhringer, Christoph
  • Hoffmann, Tim
  • de Lara Peñate, Casiano Manrique

Abstract

From 1 January 2005 onwards the European Union has launched the first largescale international carbon emissions trading program. As the EU Emissions Trading Scheme (EU-ETS) covers only part of domestic carbon emissions, it implies a hybrid environmental regulation scheme: Each EU Member State must specify additional domestic abatement policies for the sectors that are not covered by the emissions trading scheme in order to meet its emissions budget under the EU Burden Sharing Agreement. Based on numerical simulations for Germany, we illustrate the efficiency drawback of hybrid carbon regulation which becomes particularly relevant when distributional constraints of the current EU-ETS design are taken into account. --

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Bibliographic Info

Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 05-06.

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Date of creation: 2005
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Handle: RePEc:zbw:zewdip:2897

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Related research

Keywords: emissions trading; hybrid regulation; National Allocation Plans;

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References

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  1. Christoph Bohringer & Tim Hoffmann & Andreas Lange & Andreas Loschel & Ulf Moslener, 2005. "Assessing Emission Regulation in Europe: An Interactive Simulation Approach," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 1-22.
  2. Böhringer, Christoph & Lange, Andreas, 2004. "Mission Impossible!? On the Harmonization of National Allocation Plans under the EU Emissions Trading Directive," ZEW Discussion Papers 04-15, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  3. Böhringer, Christoph & Lange, Andreas, 2003. "On the Design of Optimal Grandfathering Schemes for Emission Allowances," ZEW Discussion Papers 03-08, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  4. Bohringer, Christoph, 2000. "Cooling down hot air: a global CGE analysis of post-Kyoto carbon abatement strategies," Energy Policy, Elsevier, vol. 28(11), pages 779-789, September.
  5. Christoph Bohringer, 2002. "Climate Politics from Kyoto to Bonn: From Little to Nothing?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 51-71.
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Cited by:
  1. Tol, Richard S.J., 2009. "Intra-union flexibility of non-ETS emission reduction obligations in the European Union," Energy Policy, Elsevier, vol. 37(5), pages 1745-1752, May.

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