000215751 001__ 215751
000215751 005__ 20180913063544.0
000215751 037__ $$aREP_WORK
000215751 245__ $$aThe impact of the European Emission Trading Scheme on multiple measures of economic performance*
000215751 269__ $$a2016
000215751 260__ $$aEPFL$$bEPFL$$c2016
000215751 300__ $$a31
000215751 336__ $$aWorking Papers
000215751 520__ $$aThe European emission trading scheme (EU ETS) has introduced a price for carbon and has thus led to an additional cost for companies that are regulated by the scheme. There is a growing body of empirical literature that investigates the effects of the EU ETS on firm economic performance. However, the results found to date are mixed. The objective of this paper is to provide empirical evidence on the effect of the EU ETS on economic performance at the firm level. Differently from the previous literature, we test the effect of the EU ETS on a larger set of indicators of economic performance: value added, turnover, employment, investment, labour productivity, total factor productivity and markup. Moreover, we evaluate the extent to which the impact of the EU ETS differs depending on some observable features of firms. Our results, based on a large panel of European firms, provide a comprehensive picture of the economic impact of the EU ETS in its first and second phases of implementation. The evidence suggests that the EU ETS had a positive impact on the scale of treated firms, whereas it had a negative impact on scale-free aspects of economic performance.
000215751 700__ $$aMarin, Giovanni
000215751 700__ $$0247736$$aPellegrin, Claudia$$g236992
000215751 700__ $$0244304$$aMarino, Marianna$$g192843
000215751 8564_ $$s763594$$uhttps://infoscience.epfl.ch/record/215751/files/wp_seeds.pdf$$yn/a$$zn/a
000215751 909C0 $$0252155$$pCEMI$$xU11004
000215751 909CO $$ooai:infoscience.tind.io:215751$$pworking$$pCDM
000215751 917Z8 $$x217743
000215751 937__ $$aEPFL-WORKING-215751
000215751 980__ $$aWORKING