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Climate Policy and Corporate Behaviour

Author

Listed:
  • Commins, Nicola
  • Lyons, Seán
  • Schiffbauer, Marc
  • Tol, Richard S. J.

Abstract

In this paper, we study the impact of energy taxes and the EU ETS on a large number of firms in Europe between 1996 and 2007. Using company level micro-data, we examine how firms in different sectors were affected by environmental policies. Aspects of behaviour and performance studied include total factor productivity, employment levels, investment behaviour and profitability. On the whole, energy taxes increased total factor productivity and returns to capital but decreased employment, with a mixed effect on investment, for the sectors included in our analysis. However, large sectoral variation is observed, with some industries losing out in terms of productivity and profitability when faced with increased energy taxes, while others benefitted.

Suggested Citation

  • Commins, Nicola & Lyons, Seán & Schiffbauer, Marc & Tol, Richard S. J., 2009. "Climate Policy and Corporate Behaviour," Papers WP329, Economic and Social Research Institute (ESRI).
  • Handle: RePEc:esr:wpaper:wp329
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    File URL: http://www.esri.ie/pubs/WP329.pdf
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    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. The Green New Deal (ctd)
      by Richard Tol in The Irish Economy on 2009-11-20 15:11:58

    Citations

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    Cited by:

    1. Ralf Martin & Mirabelle Mu?ls & Laure B. de Preux & Ulrich J. Wagner, 2014. "Industry Compensation under Relocation Risk: A Firm-Level Analysis of the EU Emissions Trading Scheme," American Economic Review, American Economic Association, vol. 104(8), pages 2482-2508, August.
    2. Hottenrott, Hanna & Rexhäuser, Sascha & Veugelers, Reinhilde, 2012. "Green innovations and organizational change: Making better use of environmental technology," ZEW Discussion Papers 12-043, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    3. Lundgren, Tommy & Marklund, Per-Olov & Samakovlis, Eva & Zhou, Wenchao, 2013. "Carbon Prices and Incentives for Technological Development," CERE Working Papers 2013:4, CERE - the Center for Environmental and Resource Economics.
    4. Bosello, Francesco & Davide, Marinella & Alloisio, Isabella, 2016. "Economic Implications of EU Mitigation Policies: Domestic and International Effects," EIA: Climate Change: Economic Impacts and Adaptation 234938, Fondazione Eni Enrico Mattei (FEEM).
    5. Jaraitė, Jūratė & Kažukauskas, Andrius, 2013. "The profitability of electricity generating firms and policies promoting renewable energy," Energy Economics, Elsevier, vol. 40(C), pages 858-865.
    6. Giovanni Marin & Claudia Pellegrin & Marianna Marino, 2015. "The impact of the European Emission Trading Scheme on multiple measures of economic performance," SEEDS Working Papers 2015, SEEDS, Sustainability Environmental Economics and Dynamics Studies, revised Dec 2015.
    7. Jüri Kleesmaa & Marko Viiding & Eduard Latõšov, 2011. "Implications for competitiveness of the Estonian carbon­intensive industry post-2013," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 11(2), pages 41-58, December.
    8. Lutz, Benjamin Johannes, 2016. "Emissions trading and productivity: Firm-level evidence from German manufacturing," ZEW Discussion Papers 16-067, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

    More about this item

    Keywords

    Climate policy/employment/energy taxes/europe/firm performance/investment/Policy/Productivity;

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