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Market Efficiency in the EU Emissions Trading Scheme: An outlook for the third trading period. Bruges European Economic Research (BEER) Papers 20/March 2011

de Manuel Aramendía, Mirzha (2011) Market Efficiency in the EU Emissions Trading Scheme: An outlook for the third trading period. Bruges European Economic Research (BEER) Papers 20/March 2011. [Policy Paper]

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    Abstract

    Is the EU Emission Trading Scheme (ETS) ready for the challenge of cutting emissions by 20 %? This paper tries to provide an answer to this question by studying the efficiency of the scheme, both in the secondary and in the primary markets for allowances. On the one hand, this paper draws conclusions from the operation of the scheme so far. For this purpose, it studies a wide variety of market data using economic and econometric techniques. On the other hand, building on this evidence, this paper presents and evaluates some of the changes introduced in the scheme for the third trading period.

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    Item Type: Policy Paper
    Uncontrolled Keywords: ETS, efficiency, energy, allocation, crisis
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy
    EU policies and themes > Policies & related activities > environmental policy (including international arena)
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > College of Europe (Brugge) > Bruges European Economic Research Papers (BEER)
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 18 Dec 2014 16:45
    Number of Pages: 41
    Last Modified: 18 Dec 2014 16:45
    URI: http://aei.pitt.edu/id/eprint/58609

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