Economic performance and investments under emissions trading: Untangling the effects of a staggered regulation

IF 13.6 2区经济学 Q1 ECONOMICS

Energy Economics Pub Date : 2025-01-11 DOI:10.1016/j.eneco.2024.108170

Leon Bremer, Konstantin Sommer

引用次数: 0

Abstract

We study the effects of the EU Emissions Trading System on the economic performance and investments of Dutch manufacturing firms. Motivated both by sizable differences between firms that became regulated in different phases and by a gradual increase in regulatory stringency, we pay close attention to the staggered design of the ETS as well as to potential treatment effect heterogeneity. We base our estimation on recent advances in the estimation of treatment effects and make use of administrative microdata. Our results align with those of the previous literature. Even when studying the more stringent third phase and when using estimators appropriate for the staggered ETS setting, there seems to be no discernible effects of the ETS on firms’ economic performance. We also do not find any statistically significant effect on the investment behavior of regulated firms.

查看原文本刊更多论文

排放交易下的经济表现和投资：理清交错监管的影响

本文研究了欧盟排放交易体系对荷兰制造业企业经济绩效和投资的影响。由于在不同阶段受到监管的公司之间存在巨大差异，以及监管严格程度的逐步提高，我们密切关注ETS的交错设计以及潜在的治疗效果异质性。我们的估计基于治疗效果估计的最新进展，并利用了行政微观数据。我们的结果与以前的文献一致。即使在研究更严格的第三阶段时，当使用适合于交错排放交易体系设置的估计值时，似乎也没有发现排放交易体系对企业经济表现的明显影响。我们也没有发现对受监管公司的投资行为有任何统计上显著的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Energy Economics ECONOMICS-

CiteScore

18.60

自引率

12.50%

发文量

524

期刊介绍： Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.