The impact of administrative transaction costs in the EU Emissions Trading System


Heindl, Peter


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URL: https://ub-madoc.bib.uni-mannheim.de/40133
URN: urn:nbn:de:bsz:180-madoc-401339
Document Type: Working paper
Year of publication: 2015
The title of a journal, publication series: ZEW Discussion Papers
Volume: 15-076
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
Subject: 330 Economics
Classification: JEL: D22 , D23 , Q58,
Keywords (English): EU Emissions Trading System , cap-and-trade , transaction costs , monitoring, reporting, and verification
Abstract: This paper empirically investigates the impact of transaction costs for monitoring, reporting, and verification (MRV) of emissions on companies regulated by the EU Emissions Trading System (EU ETS) in Germany. Based on a unique panel dataset, we investigate if MRV costs are dependent on the amount of annual emissions of regulated companies and if there are differences in transaction costs between economic sectors. The results indicate that administrative costs are dependent on the amount of annual emissions for larger companies which has implications for the economic efficiency of the EU ETS. The most important finding, however, is that there are significant differences in MRV transaction costs dependent on the ‘type’ and ‘size’ of companies. This implies the existence of considerable economies of scale. Overall, the EU ETS could benefit from reforms by means of a push towards upstream regulation as this would likely increase administrative efficiency.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Heindl, Peter (2015) The impact of administrative transaction costs in the EU Emissions Trading System. Open Access ZEW Discussion Papers Mannheim 15-076 [Working paper]
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