外源性冲击下的MSR:以COVID-19大流行为例

Valeriya Azarova, Mathias Mier
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引用次数: 2

摘要

为应对2008年金融危机,欧盟实施了市场稳定储备(MSR),以应对未来冲击的短期影响,如Covid-19大流行。我们将一个每五年对银行配额处理进行跨期优化的模型与一个模拟包括MSR在内的欧盟碳排放交易体系年度运作及其潜在取消的模型联系起来。忽视大流行,21.6亿份津贴被取消。考虑到疫情,如果欧洲经济到2021年完全复苏,将取消2.8亿额外配额,这甚至超过了2020年二氧化碳排放量的下降。当大流行持续的时间越长,额外的取消就会增加,这意味着MSR甚至超过了其最初的目的。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
MSR Under Exogenous Shock: The Case of COVID-19 Pandemic
The EU implemented the Market Stability Reserve (MSR) in response to the 2008 financial crisis to deal with short-term impacts of future shocks, such as the Covid-19 pandemic. We link a model that intertemporally optimizes the handling of banked allowances every five years with one that simulates the annual working of the EU ETS including the MSR with its potential cancelling. Neglecting the pandemic, 2.16 billion allowances are cancelled. Accounting for the pandemic, 0.28 billion additional allowances are cancelled if the European economy fully recovers by 2021, which even overcompensates the 2020 drop in CO2 emissions. Additional cancelling increases when the pandemic lasts longer, meaning that the MSR even outperforms its initial purpose.
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