Reply: EU ETS and the waterbed effect

Article metrics

Access options

Rent or Buy article

Get time limited or full article access on ReadCube.

from$8.99

All prices are NET prices.

References

  1. 1.

    Rosendahl, K. E. EU ETS and the waterbed effect. Nat. Clim. Change https://doi.org/10.1038/s41558-019-0579-5 (2019).

  2. 2.

    Perino, G. New EU ETS Phase 4 rules temporarily puncture waterbed. Nat. Clim. Change 8, 262–264 (2018).

  3. 3.

    Quemin, S. & Trotignon, R. Intertemporal Emissions Trading and Market Design: An Application to the EU ETS Working Paper No. 316 (Grantham Research Institute on Climate Change and the Environment, 2019).

  4. 4.

    Gerlagh, R. & Heijmans, R. J. R. K. Climate conscious consumers and the buy, bank, burn program. Nat. Clim. Change 9, 431–433 (2019).

  5. 5.

    Perino, G. et al. Understanding Overlapping Policies: Internal Carbon Leakage and the Punctured Waterbed Working Paper No. 25643 (NBER, 2019); https://www.nber.org/papers/w25643

  6. 6.

    Perino, G. & Willner, M. EU-ETS Phase IV: allowance prices, design choices and the market stability reserve. Clim. Policy 17, 936–946 (2017).

  7. 7.

    Fuss, S. et al. A framework for assessing the performance of cap-and-trade systems: insights from the European Union Emissions Trading System. Rev. Environ. Econ. Policy 12, 220–241 (2018).

  8. 8.

    Kollenberg, S. & Taschini, L. Dynamic supply adjustment and banking under uncertainty in an emission trading scheme: the market stability reserve. Eur. Econ. Rev. 118, 213–226 (2019).

  9. 9.

    Hepburn, C. et al. The economics of the EU ETS market stability reserve. J. Environ. Econ. Manage. 80, 1–5 (2016).

  10. 10.

    Perino, G. & Willner, M. Rushing the impatient: allowance reserves and the time profile of low-carboninvestments. Environ. Resour. Econ. https://doi.org/10.1007/s10640-019-00350-x (2019).

Download references

Author information

Correspondence to Grischa Perino.

Ethics declarations

Competing interests

The author declares no competing interests.

Additional information

Publisher’s note Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Rights and permissions

Reprints and Permissions

About this article

Verify currency and authenticity via CrossMark