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).
Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:52:01am WEST
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Daily Overview |
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Egg-Timer: Natural Resource Management Location: D-111 Session Chair: Luigi Reatti, Università di Firenze | |
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Experimental Evidence for a Downward-Sloping Allowance Supply Curve in the EU ETS University of Hamburg, Germany The theoretical literature on the current design of the European Union Emissions Trading System (EU ETS) predicts that its Market Stability Reserve (MSR) induces a downward-sloping implicit allowance supply curve in response to anticipated future demand shocks. The latter can for example be induced by announcing climate policies overlapping the EU ETS such as a coal phase-out by one or several member states. This would imply that aggregate emissions increase in response to an announced climate policy and that the MSR exacerbates price responses to anticipated shocks and thereby undermines an important component of market stability. We present the first experimental evidence that an MSR-like supply adjustment mechanism indeed induces a downward-sloping implicit supply function. | |