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The Impact of the European Union Emissions Trading Scheme on Regulated Firms: What Is the Evidence after Ten Years?

Author

Listed:
  • Ralf Martin
  • Mirabelle Muûls
  • Ulrich J. Wagner

Abstract

This article reviews the recent literature on ex post evaluation of the impacts of the European Union (EU) Emissions Trading Scheme (ETS) on regulated firms in the industrial and power sectors. We summarize the findings from original research papers concerning three broadly defined impacts: carbon dioxide emissions, economic performance and competitiveness, and innovation. We conclude by highlighting gaps in the current literature and suggesting priorities for future research on this landmark policy. (JEL: Q52, Q54, Q58)

Suggested Citation

  • Ralf Martin & Mirabelle Muûls & Ulrich J. Wagner, 2016. "The Impact of the European Union Emissions Trading Scheme on Regulated Firms: What Is the Evidence after Ten Years?," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 10(1), pages 129-148.
  • Handle: RePEc:oup:renvpo:v:10:y:2016:i:1:p:129-148.
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    File URL: http://hdl.handle.net/10.1093/reep/rev016
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    References listed on IDEAS

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    1. Petrick, Sebastian & Wagner, Ulrich J., 2014. "The impact of carbon trading on industry: Evidence from German manufacturing firms," Kiel Working Papers 1912, Kiel Institute for the World Economy (IfW).
    2. Seiji Ikkatai & Daiske Ishikawa & Kengo Sasaki, 2008. "Effect of the European Union Emission Trading Scheme (EU ETS) on companies: Interviews with European companies," KIER Working Papers 660, Kyoto University, Institute of Economic Research.
    3. Petrick Sebastian & Rehdanz Katrin & Wagner Ulrich J., 2011. "Energy Use Patterns in German Industry: Evidence from Plant-level Data," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 231(3), pages 379-414, June.
    4. Jan Abrell & Anta Ndoye Faye & Georg Zachmann, 2011. "Assessing the impact of the EU ETS using firm level data," Working Papers of BETA 2011-15, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    5. Ibrahim Ahamada & Djamel Kirat, 2012. "The impact of phase II of the EU ETS on the electricity-generation sector," Documents de travail du Centre d'Economie de la Sorbonne 12007, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    6. repec:dau:papers:123456789/10174 is not listed on IDEAS
    7. Ibrahim Ahamada & Djamel Kirat, 2011. "The impact of the European Union Emission Trading Scheme on electricity generation," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00629900, HAL.
    8. Claudia Kettner & Daniela Kletzan-Slamanig & Angela Köppl, 2011. "The EU Emission Trading Scheme. Allocation Patterns and Trading Flows," WIFO Working Papers 402, WIFO.
    9. Kirat, Djamel & Ahamada, Ibrahim, 2011. "The impact of the European Union emission trading scheme on the electricity-generation sector," Energy Economics, Elsevier, vol. 33(5), pages 995-1003, September.
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    Cited by:

    1. repec:gam:jsusta:v:9:y:2017:i:6:p:1028-:d:101610 is not listed on IDEAS
    2. Steven Poelhekke, 2017. "How expensive should CO2 be? Fuel for the debate on optimal climate policy," DNB Working Papers 579, Netherlands Central Bank, Research Department.
    3. repec:gam:jsusta:v:10:y:2018:i:7:p:2421-:d:157439 is not listed on IDEAS
    4. repec:eee:enepol:v:109:y:2017:i:c:p:154-180 is not listed on IDEAS
    5. repec:eee:enepol:v:110:y:2017:i:c:p:9-19 is not listed on IDEAS
    6. repec:gam:jsusta:v:9:y:2017:i:11:p:2122-:d:119248 is not listed on IDEAS
    7. Massimiliano Corradini & Valeria Costantini & Anil Markandya & Elena Paglialunga & Giorgia Sforna, 2018. "Some reflections on policy mix in the EU low-carbon strategy," Departmental Working Papers of Economics - University 'Roma Tre' 0236, Department of Economics - University Roma Tre.
    8. Oskar Lecuyer & Philippe Quirion, 2016. "Interaction between CO2 emissions trading and renewable energy subsidies under uncertainty: feed-in tariffs as a safety net against over-allocation," Working Papers 2016.14, FAERE - French Association of Environmental and Resource Economists.
    9. Giovanni Marin & Francesco Vona, 2017. "The Impact of Energy Prices on Employment and Environmental Performance: Evidence from French Manufacturing Establishments," Working Papers 2017.53, Fondazione Eni Enrico Mattei.
    10. Rammer, Christian & Gottschalk, Sandra & Peneder, Michael & Wörter, Martin & Stucki, Tobias & Arvanitis, Spyros, 2017. "Does energy policy hurt international competitiveness of firms? A comparative study for Germany, Switzerland and Austria," Energy Policy, Elsevier, vol. 109(C), pages 154-180.
    11. repec:gam:jsusta:v:10:y:2018:i:1:p:173-:d:126695 is not listed on IDEAS
    12. repec:gam:jsusta:v:9:y:2017:i:10:p:1747-:d:113547 is not listed on IDEAS
    13. repec:eee:appene:v:204:y:2017:i:c:p:531-543 is not listed on IDEAS
    14. Germeshausen, Robert, 2018. "The European Union emissions trading scheme and fuel efficiency of fossil fuel power plants in Germany," ZEW Discussion Papers 18-007, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    15. aus dem Moore, Nils & Großkurth, Philipp & Themann, Michael, 2017. "Multinational corporations and the EU emissions trading system: Asset erosion and creeping deindustrialization?," Ruhr Economic Papers 719, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    16. repec:gam:jeners:v:11:y:2018:i:4:p:706-:d:137313 is not listed on IDEAS
    17. A. Denny Ellerman & Claudio Marcantonini & Aleksandar Zaklan, 2016. "The European Union Emissions Trading System: Ten Years and Counting," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 10(1), pages 89-107.

    More about this item

    JEL classification:

    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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