经济
格兰杰因果关系
欧洲联盟
投资(军事)
估计
面板数据
排放交易
因果关系(物理学)
温室气体
货币经济学
宏观经济学
反弹效应(守恒)
国际经济学
计量经济学
高效能源利用
生态学
物理
电气工程
管理
量子力学
政治
政治学
法学
生物
工程类
作者
C. Kaan Bolat,Uğur Soytaş,Bülent G. Akinoglu,Şaban Nazlıoğlu
标识
DOI:10.1016/j.eneco.2023.106879
摘要
This study examines the macroeconomic carbon rebound effect for the European Union (EU) Emissions Trading System (ETS) by using data for the 2005–2019 period for 26 European countries. We estimate the panel data models which link emissions to allowances by controlling for economic growth, investment, employment, and energy intensity. The results from both the recent panel estimation approaches and Granger causality analysis indicate a macroeconomic carbon rebound effect of the EU ETS. The bidirectional Granger causality between emissions and allowances highlights a self-enforcing macroeconomic rebound. Energy intensity significantly impacts emissions directly and indirectly via the macroeconomic rebound effect. Our results show that positive economic spillovers of ETSs may hamper the efforts to meet climate targets.
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