Installation entries and exits in the EU ETS : patterns and the delay effect of closure provisions

Simple item page
dc.contributor.authorVERDE, Stefano F.
dc.contributor.authorGRAF, Christoph
dc.contributor.authorJONG, Thijs
dc.date.accessioned2022-11-07T14:54:05Z
dc.date.available2022-11-07T14:54:05Z
dc.date.issued2019
dc.descriptionAvailable online 12 December 2018
dc.description.abstractThis paper analyses installation entries and exits in the EU ETS, over 2005–2013. Patterns of entries and exits are identified across countries, sectors, and time. The limitations of the EUTL as a data source for research purposes mean that only genuine exits (reflecting production capacity reduction), and not genuine entries (reflecting production capacity increases), can be systematically identified. Exits are found to be relatively frequent events, more so in manufacturing sectors with small average installation size. Moreover, exits were concentrated in 2007 and in 2012, the final years of Phase I and Phase II. We investigate whether the perverse incentives of closure provisions, in free allocation, explain such time pattern. A discrete-time hazard model for the exit event is estimated using a three-tier dataset combining installation-, firm-, and macro-level information. The results indicate that, most likely, closure provisions delayed installation exits, especially in Phase II.en
dc.description.versionPublished version of EUI RSCAS Working Paper 2016/19en
dc.format.mimetypeapplication/pdf
dc.identifier.citationEnergy economics, 2019, Vol. 78, pp. 508-524en
dc.identifier.doi10.1016/j.eneco.2018.11.032
dc.identifier.endpage524en
dc.identifier.issn0140-9883
dc.identifier.issn1873-6181
dc.identifier.startpage508en
dc.identifier.urihttps://hdl.handle.net/1814/74998
dc.identifier.volume78en
dc.language.isoenen
dc.orcid.uploadtrue*
dc.publisherElsevieren
dc.relation.ispartofEnergy economicsen
dc.relation.ispartofseries[Florence School of Regulation]
dc.relation.ispartofseries[Climate]
dc.relation.isversionofhttp://hdl.handle.net/1814/40527
dc.rightsinfo:eu-repo/semantics/openAccess
dc.titleInstallation entries and exits in the EU ETS : patterns and the delay effect of closure provisionsen
dc.typeArticleen
dspace.entity.typePublication
person.identifier.other35245
relation.isAuthorOfPublicationbc450f9c-780f-405e-b4af-314ff4e172a9
relation.isAuthorOfPublication.latestForDiscoverybc450f9c-780f-405e-b4af-314ff4e172a9
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Verde_Graf_Jong_2019_accepted_version.pdf
Size:
1.55 MB
Format:
Adobe Portable Document Format
Description:
Full-text in Open Access, Final Accepted Version
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
3.83 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
RSC Articles