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Modeling of the Impacts of Revenue from Emission Allowances Trading on Selected Macroeconomic Indicators in the Czech Republic

100%
Daniela S.
Littera Scripta
|
2014
|
vol. 2
34-46
EN
The aim of this paper is to create and in terms of the Czech Republic also to apply a simultaneous model for determination of macroeconomic impacts of the trading of emission allowances. Another aim is to determine its adequateness of application both from econometric and economic point of view, or alternatively to define its limits and restrictions. At first, prerequisites and characteristics of the model are defined. The application of the model in terms of the Czech Republic is performed next followed by economic and econometric verification. The conclusion of the paper contains evaluation of the impacts of the changes in revenue from allowances on select basic macroeconomic indicators, as for instance inflation, unemployment, government purchases or net export. In case revenue from trading of emission allowances in the Czech Republic rise by 1 billion CZK, unemployment falls by 0.15 % and the government expenses will increase by approximately 1.032 billion CZK and net export will increase as well, but only by 194 million CZK. Regarding inflation, the result of simultaneous model or the paired regression is the fact that revenue from allowances and inflation are independent on each other.
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SKUTECZNOŚĆ SYSTEMU HANDLU EMISJAMI UNII EUROPEJSKIEJ W ZAKRESIE REDUKCJI EMISJI GAZÓW CIEPLARNIANYCH

51%
Nadolny Ł.
Acta Universitatis Lodziensis. Folia Oeconomica
|
2015
|
vol. 2
|
issue 313
EN
The Emissions Trading System (ETS) has been functioning in the European Union since 2005. It is aimed at reducing the greenhouse gas emissions produced within the EU in a cost-effective and economically efficient manner. The essence of this mechanism is to limit the Skuteczność systemu handlu emisjami Unii Europejskiej… 47 total number of air pollutants produced by Member States by issuing allowances which can be freely traded by the system participants. The question that motivates this paper is whether the EU ETS was efficient enough in reducing the greenhouse gas emissions during the period of 2005–2012 and what are the prospects for the future. The first part of the article introduce the basic principles of the EU Emissions Trading System. Then the statistical data analysis provides an overview of how the EU ETS performed as a market mechanism during the 2005–2012 period and what were the changes in greenhouse gas emissions in the same time. It gives the reader a picture of how effective the system was and what to expect in the following years.
PL
System Handlu Emisjami (ETS) funkcjonuje w Unii Europejskiej od 2005 roku. Jego celem jest redukcja emisji gazów cieplarnianych wytwarzanych na obszarze UE w efektywny pod względem kosztów i skuteczny gospodarczo sposób. Główną zasadą tego mechanizmu jest ograniczenie ilości wytwarzanych przez Państwa Członkowskie zanieczyszczeń powietrza poprzez wydawanie pozwoleń, którymi uczestnicy systemu mogą swobodnie handlować. Kluczowe pytanie jakie zostało postawione w artykule to czy system EU ETS był wystarczająco skuteczny w zakresie redukcji emisji gazów cieplarnianych w okresie 2005-2012 i jakie są perspektywy na przyszłość. W pierwszej części artykułu przedstawione zostały podstawowe zasady Systemu Handlu Emisjami Unii Europejskiej. Następnie analiza danych statystycznych pozwala zaobserwować jak EU ETS działał jako mechanizm rynkowy w okresie 2005-2012 i jakie były zmiany w emisjach gazów cieplarnianych w tym samym czasie. Daje to czytelnikowi obraz tego jak efektywny był to system i czego można się spodziewać w kolejnych latach.
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