Efficiency Losses from Overlapping Economic Instruments in European Carbon Emissions Regulation


Böhringer, Christoph ; Koschel, Henrike ; Moslener, Ulf


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URL: http://ub-madoc.bib.uni-mannheim.de/1235
URN: urn:nbn:de:bsz:180-madoc-12357
Dokumenttyp: Arbeitspapier
Erscheinungsjahr: 2006
Sprache der Veröffentlichung: Englisch
Einrichtung: Sonstige Einrichtungen > Zentrum für Europ. Wirtschaftsforschung (ZEW)
MADOC-Schriftenreihe: Veröffentlichungen des ZEW (Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Fachgebiet: 330 Wirtschaft
Fachklassifikation: JEL: H21 H22 Q58 D61 ,
Normierte Schlagwörter (SWD): Europäische Union , Emission , Emissionsschutz , Klima / Umweltpolitik , Steuer
Abstract: Energy markets and energy-intensive industries in all EU member states – especially in Germany – are subject to a diverse set of policies related to climate change. We analyse the potential efficiency losses from simultaneous application of emission taxes and emissions trading in qualitative and quantitative terms within a partial equilibrium framework for the EU. It turns out that those firms within the EU Emissions Trading Scheme (EU ETS) which at the same time are subject to domestic energy or carbon taxes will abate inefficiently much while other firms within the EU ETS will benefit from lower international emission permit prices. The same logic disproves the argument that additional national emission taxes will reduce inefficiencies in abatement supposed to be resulting from allowance (over-) allocation. In essence, unilateral emission taxes within the EU ETS are ecologically ineffective and subsidise net permit buyers. Thus, all firms that are subject to emissions trading and any CO2 emission taxes at the same time should be exempt from the latter. The foregone tax revenue could be generated by auctioning a small fraction of the permits instead. This would be cheaper for the emissions trading sectors as a whole and could be compatible even with the tight auctioning restrictions of the EU directive.
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Böhringer, Christoph und Koschel, Henrike und Moslener, Ulf (2006) Efficiency Losses from Overlapping Economic Instruments in European Carbon Emissions Regulation. [Arbeitspapier]
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