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Der steinige Weg von der Theorie in die Praxis des Emissionshandels: Die EU‐Richtlinie zum CO2‐Emissionshandel und ihre nationale Umsetzung

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  • Patrick Graichen
  • Till Requate

Abstract

In July 2003 the European Parliament and the Council have started a new era of environmental regulation by establishing a nationwide open emission trading system for the European Union. In this article we firstly critically discuss the institutional rules set by the EU‐directive. Secondly, we analyse consequences for the national allocation plans. Furthermore, we discuss the allocation rules for emission permits, which are currently under consideration for Germany. In particular we focus on output‐based versus emission‐based allocation rules and on treatments of new entrants and firm exits. We argue that free permits should only be allocated due to either historic output or historic emissions. We further argue that new entrants should not get any free permits and that firms which leave the market should not lose their permits assigned for future periods. Finally we discuss interaction of emission trading and related instruments such as eco‐taxes, and subsidies for renewable energy.

Suggested Citation

  • Patrick Graichen & Till Requate, 2005. "Der steinige Weg von der Theorie in die Praxis des Emissionshandels: Die EU‐Richtlinie zum CO2‐Emissionshandel und ihre nationale Umsetzung," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(1), pages 41-56, February.
    • Handle: RePEc:bla:perwir:v:6:y:2005:i:1:p:41-56
    DOI: 10.1111/j.1465-6493.2005.00167.x
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    1. Gagelmann, Frank & Hansjürgens, Bernd, 2002. "Der neue CO2-Emissionshandel in der EU," Wirtschaftsdienst – Zeitschrift für Wirtschaftspolitik (1949 - 2007), ZBW - Leibniz Information Centre for Economics, vol. 82(4), pages 226-234.
    2. Gersbach, Hans & Requate, Till, 2004. "Emission taxes and optimal refunding schemes," Journal of Public Economics, Elsevier, vol. 88(3-4), pages 713-725, March.
    3. Bohringer, Christoph & Lange, Andreas, 2005. "On the design of optimal grandfathering schemes for emission allowances," European Economic Review, Elsevier, vol. 49(8), pages 2041-2055, November.
    4. Copeland, Brian R & Taylor, M Scott, 1995. "Trade and Transboundary Pollution," American Economic Review, American Economic Association, vol. 85(4), pages 716-737, September.
    5. Unold, Wolfram & Requate, Till, 2001. "Pollution control by options trading," Economics Letters, Elsevier, vol. 73(3), pages 353-358, December.
    6. Spulber, Daniel F., 1985. "Effluent regulation and long-run optimality," Journal of Environmental Economics and Management, Elsevier, vol. 12(2), pages 103-116, June.
    7. Roberts, Marc J. & Spence, Michael, 1976. "Effluent charges and licenses under uncertainty," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 193-208.
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    Cited by:

    1. Manuel Frondel & Christoph M. Schmidt & Colin Vance, 2008. "Emissions Trading: Impact on Electricity Prices and Energy-Intensive Industries," Ruhr Economic Papers 0081, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    2. Christoph Böhringer & Andreas Lange & Ulf Moslener, 2005. "Der EU‐Emissionshandel im Zielkonflikt zwischen Effizienz, Kompensation und Wettbewerbsneutralität," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(3), pages 309-323, August.
    3. Regina Betz & Wolfgang Eichhammer & Joachim Schleich, 2004. "Designing National Allocation Plans for Eu-Emissions Trading — A First Analysis of the Outcomes," Energy & Environment, , vol. 15(3), pages 375-425, July.
    4. Rogge, Karoline S. & Schleich, Joachim & Betz, Regina, 2006. "An early assessment of national allocation plans for phase 2 of EU emission trading," Working Papers "Sustainability and Innovation" S1/2006, Fraunhofer Institute for Systems and Innovation Research (ISI).
    5. Manuel Frondel & Christoph Schmidt & Colin Vance, 2012. "Emissions trading: Impact on electricity prices and energy-intensive industries," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 47(2), pages 104-111, March.
    6. Clasing, Martin, 2006. "CO2-Emissionshandel - Auswirkungen auf die deutsche Energiewirtschaft," Jena Contributions to Economic Research 2006,2, Ernst-Abbe-Hochschule Jena – University of Applied Sciences, Department of Business Administration.
    7. Alfred Endres, 2008. "Ein Unmöglichkeitstheorem für die Klimapolitik?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(3), pages 350-382, August.
    8. repec:zbw:rwirep:0081 is not listed on IDEAS
    9. Verena L. Holzer, 2004. "Ecological Objectives and the Energy Sector - the German Renewable Energies Act and the European Emissions Trading System -," Volkswirtschaftliche Diskussionsbeiträge 63, Universität Potsdam, Wirtschafts- und Sozialwissenschaftliche Fakultät.

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