The impacts of the EU ETS on efficiency - an empirical analyses for German manufacturing firms


Löschel, Andreas ; Lutz, Benjamin Johannes ; Managi, Shunsuke


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URL: https://ub-madoc.bib.uni-mannheim.de/41799
URN: urn:nbn:de:bsz:180-madoc-417995
Document Type: Working paper
Year of publication: 2016
The title of a journal, publication series: ZEW Discussion Papers
Volume: 16-089
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: Q52 , D22 , Q38 , Q48,
Keywords (English): Control of externalities , emissions trading , economic performance , manufacturing , difference-in-differences , nearest neighbor matching , stochastic production frontier
Abstract: We investigate the effect of the European Union Emissions Trading System (EU ETS) on the economic performance of manufacturing firms in Germany. Our difference-in-differences framework relies on several parametric conditioning strategies and nearest neighbor matching. As a measure of economic performance, we use the firm specific distance to the stochastic production frontier recovered from offcial German production census data. None of our identification strategies provide evidence for a statistically significant negative effect of emissions trading on economic performance. On the contrary, the results of the nearest neighbor matching suggest that the EU ETS rather had a positive impact on the economic performance of the regulated firms, especially during the first compliance period. A subsample analysis confirms that EU ETS increased the effciency of treated firms in at least some two-digit industries.

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Löschel, Andreas ; Lutz, Benjamin Johannes ; Managi, Shunsuke (2016) The impacts of the EU ETS on efficiency - an empirical analyses for German manufacturing firms. Open Access ZEW Discussion Papers Mannheim 16-089 [Working paper]
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