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Registros recuperados: 4
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Absolute Abundance and Relative Scarcity: Announced Policy, Resource Extraction, and Carbon Emissions AgEcon
Di Maria, Corrado; Smulders, Sjak; van der Werf, Edwin.
We study the effectiveness of climate change policy in a model with multiple non-renewable resources that differ in their carbon content. We find that, when allowing some time between announcement and implementation of a cap on carbon dioxide emissions, emissions from non-renewable energy sources increase at the time of announcement. There are two channels behind this effect. First, since a binding constraint on emissions restricts energy use during some period of time, more must be extracted during other periods. Second, since low carbon energy sources are relatively more valuable when the policy is implemented, it is optimal to conserve them ahead of enforcement. This might induce a switch to high-carbon resources before the policy is implemented.
Tipo: Working or Discussion Paper Palavras-chave: Climate Policy; Non-renewable Resources; Announcement Effects; Scarcity; Order of Extraction; Environmental Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/46626
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Carbon Leakage Revisited: Unilateral Climate Policy with Directed Technical Change AgEcon
Di Maria, Corrado; van der Werf, Edwin.
A common critique to the Kyoto Protocol is that the reduction in emissions of CO2 by countries who comply with it will be (partly) offset by the increase in emissions on the part of other countries (carbon leakage). This paper analyzes the effect of technical change on carbon leakage in a two-country model where only one of the countries enforces an exogenous cap on emissions. Climate policy induces changes in relative prices, which cause carbon leakage through a terms-of-trade effect. However, these changes in relative prices in addition affect the incentives to innovate in different sectors. We allow entrepreneurs to choose the sector for which they innovate (directed technical change). This leads to a counterbalancing induced-technology effect, which...
Tipo: Working or Discussion Paper Palavras-chave: Environmental Economics and Policy.
Ano: 2006 URL: http://purl.umn.edu/12056
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Efficiency, Productivity and Environmental Policy: A Case Study of Power Generation in the EU AgEcon
Jaraite, Jurate; Di Maria, Corrado.
This study uses the EU public power generating sector as a case study to investigate the environmental efficiency and productivity enhancing performance of the European Union’s CO2 Emissions Trading Scheme (EU ETS) in its pilot phase. Using Data Envelopment Analysis methods, we measure the environmental efficiency and the productivity growth registered in public power generation across the EU over the 1996-2007 period. In the second stage of our analysis we attempt to explain changes in productivity and efficiency over time using state-of-the-art econometric techniques. Our analysis suggests two conclusions: on the one hand carbon pricing led to an increase in environmental efficiency and to a shift outwards of the technological frontier; on the other...
Tipo: Working or Discussion Paper Palavras-chave: Emissions Trading; EU ETS; Environmental Efficiency; Productivity Growth; Data Envelopment Analysis; Environmental Economics and Policy; O38; Q48; Q58.
Ano: 2011 URL: http://purl.umn.edu/101297
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Abatement and Allocation in the Pilot Phase of the EU ETS AgEcon
Anderson, Barry; Di Maria, Corrado; Convery, Frank J..
We use historical industrial emissions data to assess the level of abatement and overallocation that took place across European countries during the pilot phase (2005-2007)of the European Union Emission Trading Scheme. Using a dynamic panel data model, we estimate the counterfactual (business-as-usual) emissions scenario for EU member states. Comparing this baseline to allocated and verified emissions, we conclude that both overallocation and abatement occurred, along with under-allocation and emissions inflation. Over the three trading years of the pilot phase we find over-allocation of approximately 376 million EUAs (6%) and total abatement at the member state level of 107 Mt CO2 (1.8%). However, due to over-allocation and possible uncertainty about...
Tipo: Working or Discussion Paper Palavras-chave: Emissions Trading Scheme; Climate Policy; Dynamic Panel Data Analysis; Environmental Economics and Policy; C23; O13; Q54; Q58.
Ano: 2009 URL: http://purl.umn.edu/55831
Registros recuperados: 4
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