| Title: |
Is there a macroeconomic carbon rebound effect in EU ETS? |
| Authors: |
Nazlioglu, S.; Soytas, U.; Bolat, C.K.; Akinoglu, B. |
| Publisher Information: |
Elsevier B.V. |
| Publication Year: |
2023 |
| Collection: |
Pamukkale University Repository / Pamukkale Üniversitesi Açık Erişim Arşivi |
| Subject Terms: |
ETS; Carbon rebound effect; EU; panel data; Economics; Energy Intensity; Investments; Statistical tests; Economic energy; Emission trading systems; European Countries; European union; Panel data models; Rebound-effect; Carbon; economic growth; emissions trading; employment; Granger causality test; investment; macroeconomics; pollution tax; Europe |
| Description: |
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. © 2023 The Authors |
| Document Type: |
article in journal/newspaper |
| Language: |
English |
| Relation: |
Energy Economics; Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı; https://doi.org/10.1016/j.eneco.2023.106879; https://hdl.handle.net/11499/52015; 125; WOS:001049399400001 |
| DOI: |
10.1016/j.eneco.2023.106879 |
| Availability: |
https://hdl.handle.net/11499/52015; https://doi.org/10.1016/j.eneco.2023.106879 |
| Rights: |
none |
| Accession Number: |
edsbas.DD92C215 |
| Database: |
BASE |