| 来源类型 | Journal Article |
| 规范类型 | 论文 |
| How to Avoid History Repeating Itself: The Case for an EU Emissions Trading System (EU ETS) Price Floor Revisited | |
| Christian Flachsland; Michael Pahle; Dallas Burtraw; Ottmar Edenhofer; Milan Elkerbout; Carolyn Fischer; Oliver Tietjen; Lars Zetterberg | |
| 发表日期 | 2019-11-02 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Several years of very low allowance prices in the EU emissions trading scheme (ETS) have motivated calls to introduce a price floor to correct potential underlying distortions and design flaws, including (i) the political nature of allowance supply and related credibility issues, (ii) potential myopia of market participants and firms, and (iii) waterbed and rebound effects resulting from policy interactions. In the wake of the recent EU ETS reform, allowance prices have sharply increased. This raises the question of whether the case for introducing a price floor in the EU ETS remains valid. We argue that such a price floor, also adopted in several other greenhouse gas cap-and-trade systems worldwide, remains an important improvement in the design of the system, as long as the above-mentioned distortions and design flaws persist. An EU ETS price floor can safeguard against these issues and provides more explicit guidance on the minimum allowance price policymakers consider acceptable. Either as a complement or substitute to the current Market Stability Reserve (MSR), a price floor would thus make the EU ETS less prone to future revision in case of unexpectedly low prices. We identify and confront four prominent arguments against the introduction of an EU ETS price floor. |
| 主题 | Carbon Pricing,Cap and Trade,Policy Design and Evaluation,Europe |
| URL | https://www.rff.org/publications/journal-articles/how-avoid-history-repeating-itself-case-eu-emissions-trading-system-eu-ets-price-floor-revisited/ |
| 来源智库 | Resources for the Future (United States) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/588238 |
| 推荐引用方式 GB/T 7714 | Christian Flachsland,Michael Pahle,Dallas Burtraw,et al. How to Avoid History Repeating Itself: The Case for an EU Emissions Trading System (EU ETS) Price Floor Revisited. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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