Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Egg-timer session: Carbon emission trading Location: Auditorium J: Aina Uhde Session Chair: Corrado Di Maria, University of East Anglia | |
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The Impact of Green Policies on Local Economic Performance: Evidence from the EU ETS 1: Bocconi University, Italy; 2: RFF-CMCC European Institute on Economics and the Environment Environmental policies such as the European Union Emissions Trading System (EU ETS) raise concerns about their impact on employment and competitiveness. Yet, existing EU ETS studies focus on firm-level outcomes during the initial phases of the program. We construct a panel dataset of about 900 European provinces across 2008 to 2020 to assess the effects of a significant policy change in Phase 3 of the EU ETS. Specifically, we investigate how the changes in the allocation of free allowances affected local economies in terms of employment, gross value added (GVA) and productivity. By assembling a novel dataset and measuring the net change of paid emissions from Phase 2 to Phase 3 we construct a measure of exposure to the policy change at the NUTS-3 level. Using synthetic difference-in-differences, we find that being more exposed to the EU ETS is associated with a statistically significant contraction of employment and GVA in the more carbon-intensive industries. Our results are complemented by evidence on a sizeable reduction in carbon emissions and a mild impact in terms of regional disparities in the European Union. | |