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Title: The efficiency costs of separating carbon markets under the EU emissions trading scheme: a quantitative assessment for Germany
Authors: Böhringer, Christoph
Hoffmann, Tim
Manrique de Lara Peñate, Casiano 
UNESCO Clasification: 531205 Energía
Keywords: Emisiones de gas
Issue Date: 2006
Publisher: 0140-9883
Journal: Energy Economics 
Abstract: From I January 2005 onwards the European Union has launched the first large-scale international carbon emissions trading program. As the EU Emissions Trading Scheme (EU-ETS) covers only part of domestic carbon emissions, it implies a segmented environmental regulation scheme: Each EU Member State must specify additional domestic abatement policies for the sectors outside the EU-ETS in order to meet its emissions budget under the EU Burden Sharing Agreement. We highlight the generic problems of segmented carbon regulation in terms of information requirements for international carbon prices and domestic abatement costs of sectors outside the EU-ETS. Based on numerical simulations for Germany, we quantify the excess costs of segmented carbon regulation and conclude that inefficiencies can be much better explained by lobbying of influential EU-ETS sectors than by information problems. (c) 2005 Elsevier B.V. All rights reserved.
ISSN: 0140-9883
DOI: 10.1016/j.eneco.2005.09.001
Source: Energy Economics[ISSN 0140-9883],v. 28, p. 44-61
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