IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this book

In search of the carbon price: The european CO2 emission trading scheme : from ex ante and ex post analysis to the protection in 2020

Listed editor(s):
  • De Perthuis, Christian
Registered editor(s):
Listed author(s):
  • Trotignon, Raphaël

This thesis is an evaluation of the first two phases of the EU ETS. It is articulated around the progressive construction of a simulation model, ZEPHYR-Flex, which aims at being able to replicate the observed price and emissions trajectories between 2005 and 2012, and to project them until 2020 under different sets of assumptions. The ex post analysis of the first eight years of the system reveals that to understand its development, it is necessary to study in details the role played by three flexibility mechanisms: trading, spatial flexibility (offsets), and time flexibility (banking/borrowing). In a first stage, we build a technical-economic framework for the core trading mechanism of the model. The role of offsets is then scrutinized and a scenario for their use up to 2020 is calculated on this basis. Next, the time flexibility and the related banking and borrowing behavior are introduced into the model which can then replicate the past price and emission trajectory. The model and the lessons from the first two phases are then used in different prospective scenarios to 2020. Among the scenarios tested, only a strengthening of the cap in line with the 2050 European reduction target is able to restore confidence and anticipations, two factors needed for the efficiency of the EU ETS in the long term. The issue of correctly articulating the EU ETS with other climate-energy policies is also underlined

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

in new window

This book is provided by Paris Dauphine University in its series Economics Thesis from University Paris Dauphine with number 123456789/11212 and published in 2012.
Handle: RePEc:dau:thesis:123456789/11212
Note: dissertation
Contact details of provider: Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:dau:thesis:123456789/11212. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alexandre Faure)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.