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배출권 시장 안정화 정책의 분석(Comparative analysis for policy options to stabilize cap-and-trade system in Korean) : 중앙은행 모델을 중심으로

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  • 배출권 시장 안정화 정책의 분석(Comparative analysis for policy options to stabilize cap-and-trade system in Korean)
  • 유종민
  • 자본시장연구원


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Title 배출권 시장 안정화 정책의 분석(Comparative analysis for policy options to stabilize cap-and-trade system in Korean)
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Sub Title

중앙은행 모델을 중심으로

Material Type Reports
Author(Korean)

유종민

Publisher

[서울]:자본시장연구원

Date 2014-07
Series Title; No 조사보고서 / 14-03
Pages 132
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Subject Economy < Financial Policy
Holding 자본시장연구원

Abstract

Korean Emission Trading Scheme(ETS) launching in 2015 has many good examples from other countries' expereinces: ETS in European Union, Switzerland, New Zealand, and some voluntary schemes in U.S or Canada to control green house gas emissions with the purpose of preventing climate change, or the Acid Rain Program as a part of the 1990 Clean Air Act in the U.S. to control sulfur dioxide emissions. We can learn lessons from them since most of these emission trading markets have suffered from huge price volatilities incurred by abrupt shift in policy or business cycle. Unpredictable price movements with high frequencies make regulated firms avoid investment for abatement since downward risk of prices can provide a chance to purchase emission permits at a cheaper price than the cost for scaling up abatement facilities. (The rest omitted)