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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Emissions Trading 2: ETS Evidence Location: B136 Session Chair: Yinna Chen, Huazhong University of Science and Technology | |
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PRESSURED TO CHOOSE? FIRMS’ PRODUCT CHOICES UNDER THE EU ETS 1: University of Basel; 2: Universidad Complutense de Madrid; 3: University of East Anglia This paper analyzes the impact of environmental policy on firms' product choice and the energy intensity of firms' product ranges using the EU Emissions Trading Scheme (EU ETS) as an example. We derive testable predictions on the likely impact of the ETS and employ a matched difference-in-differences approach to empirically test the predictions for manufacturing firms in Germany between 2003 and 2018. Our results show that the ETS caused an increase in the number of firms dropping products, specifically energy-intensive product categories, a reduction in the number of products they supply, and a decrease in emission intensity during the early years of the ETS. In a separate analysis, we find that the product mix played a minor role in this overall reduction. We find no evidence of negative impacts on firm performance; instead, profits increase. The mineral products sector behaved most consistently with our theoretical predictions, increasing TFP and dropping product categories, likely due to higher policy pressure. | |