We study the relationship between business cycles and the design and effects of
environmental policies, particularly those with economy-wide significance like climate …

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 …

Despite the reform of the European Emissions Trading System (EU ETS), discussions about
complementing it with a carbon price floor (CPF) are ongoing. This paper analyzes the effect …

Basic materials such as steel and cement have been instrumental to modern society, but the
production requires high energy inputs and is associated with significant CO 2 emissions …

In the pursuit of its climate goals, China's national carbon market is actively exploring the
introduction of allowance auctioning to strengthen domestic mitigation efforts. However, this …

The EU carbon price lies well below estimates of the social cost of carbon and “target-
consistent” carbon prices needed to deliver ambitious targets such as the 40% reduction …

We study the relationship between business cycles and the design and effects of
environmental policies, particularly those with economy-wide significance like climate …

Reforms in 2015 and 2018 fundamentally changed the design of the EU Emissions Trading
System (ETS). The Market Stability Reserve (MSR) was created to increase resiliency to …

The EU has made significant progress in cutting greenhouse gas emissions (GHG) in recent
decades. The 2020 targets were met early: EU GHG emissions fell by 23 percent relative to …

Several EU member states are exploring options for setting minimum domestic carbon
prices within the EU Emission Trading System (ETS). First, a “TAX” policy would introduce a …