Publications:

• Kollenberg, S.; Taschini, L.: Emissions trading systems with cap adjustments. In: Journal of Environmental Economics and Management (2016). doi:10.1016/j.jeem.2016.09.003CitationAbstractDetails

  Emissions Trading Systems (ETSs) with fixed caps lack provisions to address systematic imbalances in the supply and demand of permits due to changes in the state of the regulated economy. We propose a mechanism which adjusts the allocation of permits based on the current bank of permits. The mechanism spans the spectrum between a pure quantity instrument and a pure price instrument. We solve the firms' emissions control problem and obtain an explicit dependency between the key policy stringency parameter – the adjustment rate – and the firms' abatement and trading strategies. We present an analytical tool for selecting the optimal adjustment rate under both risk-neutrality and risk-aversion, which provides an analytical basis for the regulator's choice of a responsive ETS policy.

• Kollenberg, S.; Taschini, L.: Dynamic Supply Adjustment and Banking Under Uncertainty - The Market Stability Reserve, Working Paper. 2016. Full textCitationDetails
• Neuhoff, K.; Acworth, W.; Betz, R.; Burtraw, D.; Cludius, J.; Fell, H.; Hepburn, C.; Holt, C.; Jotzo, F.; Kollenberg, S.; Landis, F.; Salant, S.; Schopp, A.; Shobe, W.; Taschini, L.; Trotignon, R.: Is a Market Stability Reserve Likely to Improve the Functioning of the EU ETS? - Evidence from a Model Comparison Exercise, Strategies, Climate (Ed.), London 2015. Full textCitationDetails
• Gilbert; A.; Lam, L.; Sachweh; C.; Smith; Ecofys, M.; Taschini; Lse, L.; Kollenberg; Ude, S.: Assessing Design Options for a Market Stability Reserve in the EU ETS, 2015. Full textCitationDetails
• Taschini, L.; Kollenberg, S.; Duffy, C.: System Responsiveness and the European Union Emissions Trading System - Policy Paper , Cccep; Economics, London School Of; Science, Political (Ed.), 2014. Full textCitationDetails