Abrell, J., Ndoye Faye, A., & Zachmann, G., (2011). Assessing the impact of the EU ETS using firm level data (Bruegel Working Paper, No. 2011/08).
Aghion, P., Dechezleprêtre, A., Hémous, D., Martin, R., & Van Reenen, J., (2016). Carbon taxes, path dependency and directed technical change: Evidence from the auto industry. Journal of Political Economy, 124 (1), 1–51. https://doi.org/10.1086/684581
Albrizio, S., Koźluk, T., & Zipperer, V., (2014). Empirical evidence on the effects of environmental policy stringency on productivity growth (OECD Economics Deparment Working Papers No. 1179).
Aldy, J., & Pizer, W., (2015). The competitiveness impacts of climate change mitigation policies. Journal of the Association of Environmental and Resource Economists, 2 (4), 565–595. http://www.nber.org/papers/w17705
Alexeeva-Talebi, V., (2011). Cost pass-through of the EU emissions allowances: Examining the European petroleum markets. Energy Economics, 33, S75–S83. https://doi.org/10.1016/j.eneco.2011.07.029
Ambec, S., Cohen, M., & Elgie, S., (2013). The porter hypothesis at 20: Can environmental regulation enhance innovation and competitiveness? Review of Environmental Economics and Policy, 7 (1), 2–22. https://doi.org/10.1093/reep/res016
Anger, N., & Oberndorfer, U., (2008). Firm performance and employment in the EU emissions trading scheme: An empirical assessment for Germany. Energy Policy, 36 (1), 12–22. https://doi.org/10.1016/j.enpol.2007.09.007
Berger, T., (2008). Concepts of national competitiveness. Journal of International Business and Economy, 9 (1), 91–111. http://www.i-jibe.org/achive/2008spring/5-Berger.pdf
Böhringer, C., & Lange, A., (2005). On the design of optimal grandfathering schemes for emission allowances. European Economic Review, 49 (8), 2041–2055. https://doi.org/10.1016/j.euroecorev.2004.06.006
Borghesi, S., Franco, C., & Marin, G., (2018). Outward foreign direct investments patterns of Italian firms in the EU ETS. The Scandinavian Journal of Economics, in press. https://doi.org/10.1111/sjoe.12323
Boutabba, M., & Lardic, S., (2017). EU emissions trading scheme, competitiveness and carbon leakage: New evidence from cement and steel industries. Annals of Operations Research, 255 (1), 47–61. https://doi.org/10.1007/s10479-016-2246-9
Branger, F., Quirion, P., & Chevallier, J., (2014). Carbon leakage and competitiveness of cement and steel industries under the EU ETS: Much ado about nothing T. The Energy Journal, 37 (3), 109–135. https://doi.org/10.5547/01956574.37.3.fbra.
Calel, R., & Dechezleprêtre, A., (2016). Environmental policy and directed technological change: Evidence from the European carbon market. Review of Economics and Statistics, 98 (1), 173–191. https://doi.org/10.1162/REST_a_00470
Calligaris, S., Arcangelo, F., & Pavan, G., (2018). The impact of European carbon market on firm productivity: Evidences from Italian manufacturing firms (Working Paper).
Carbone, J., & Rivers, N., (2017). The impacts of unilateral climate policy on competitiveness: Evidence from computable general equilibrium models. Review of Environmental Economics and Policy, 11 (1), 24–42. https://doi.org/10.1093/reep/rew025
Chan, H., Li, S., & Zhang, F., (2013). Firm competitiveness and the European Union emissions trading scheme. Energy Policy, 63, 1056–1064. https://doi.org/10.1016/j.enpol.2013.09.032
Clò, S., (2010). Grandfathering, auctioning and carbon leakage: Assessing the inconsistencies of the new ETS directive. Energy Policy, 38 (5), 2420–2430. https://doi.org/10.1016/j.enpol.2009.12.035
Coase, R., (1960). The problem of social cost. The Journal of Law & Economics, 3, 1–44. https://doi.org/10.1086/466560
Cohen, M., & Tubb, A., (2018). The impact of environmental regulation on firm and country competitiveness: A meta-analysis of the porter hypothesis. Journal of the Association of Environmental and Resource Economists, 5 (2), 371–399. https://doi.org/10.1086/695613
Commins, N., Lyons, S., Schiffbauer, M., & Tol, R. S. J., (2011). Climate policy & corporate behavior. The Energy Journal, 32 (4), 51–68. https://doi.org/10.5547/ISSN0195-6574-EJ-Vol32-No4-4
Costantini, V., & Mazzanti, M., (2012). On the green and innovative side of trade competitiveness? The impact of environmental policies and innovation on EU exports. Research Policy, 41 (1), 132–153. https://doi.org/10.1016/j.respol.2011.08.004
de Bruyn, S., Vergeer, R., Schep, E., ’t Hoen, M., Korteland, M., Cludius, J., Schumacher, K., Zell-Ziegler, C., & Healy, S., (2015). Ex-post investigation of cost pass-through in the EU ETS, an analysis for six sectors. Report to the European Union. https://doi.org/10.2834/612494.
Dechezleprêtre, A., Gennaioli, C., Margin, R., Muûls, M., & Stoerck, T., (2019). Searching for carbon leaks in multinational companies (Working paper 165, Grantham Research Institute on Climate Change and the Environment).
Dechezleprêtre, A., Nachtigall, D., & Venmans, F., (2018). The joint impact of the European Union emissions trading system on carbon emissions and economic performance (OECD Economics Department Working Paper, 1515). https://doi.org/10.1787/18151973
Dechezleprêtre, A., & Sato, M., (2017). The impacts of environmental regulations on competitiveness. Review of Environmental Economics and Policy. https://doi.org/10.1093/reep/rex013
Deschênes, O., (2011). Climate policy and labor markets. In D., Fullerton & C., Wolfram (Eds.), The design and implementation of US climate policy (pp. 37–52). University of Chicago Press. https://doi.org/10.7208/chicago/9780226921983.003.0003
Dlugosch, D., & Kozluk, T., (2017). Energy prices, environmental policies and investment–evidence from listed firms (Economics Department Working Papers, No. ECO/WKP(2017)10). OECD.
Dong, F., Dai, Y., Zhang, S., Zhang, X., & Long, R., (2019). Can a carbon emission trading scheme generate the Porter effect? Evidence from pilot areas in China. Science of the Total Environment, 653, 565–577. https://doi.org/10.1016/j.scitotenv.2018.10.395
European Commission. (2011). 2011/278/EU: Commission decision of 27 April 2011 determining transitional Union-wide rules for harmonised free allocation of emission allowances pursuant to Article 10a of directive 2003/87/EC of the European Parliament and of the Council. https://publications.europa.eu/en/publication-detail/-/publication/25d79153-02b6-4370-974c-2a45baf79167
European Commission. (2012). Guidelines on certain state aid measures in the context of the greenhouse gas emission allowance trading scheme post-2012.
European Commission. (2018). Report on the functioning of the European carbon market.
Fell, H., & Maniloff, P., (2018). Leakage in regional environmental policy: The case of the regional greenhouse gas initiative. Journal of Environmental Economics and Management, 87, 1–23. https://doi.org/10.1016/j.jeem.2017.10.007
Flues, F., & Lutz, B., (2015). Competitiveness impacts of the German electricity tax (OECD Environment Working Papers, No. 88). OECD Publishing. https://doi.org/10.1787/5js0752mkzmv-en
Garsous, G., Kozluk, T., & Dlugosch, D., (2020). Do energy prices drive outward FDI? Evidence from a sample of listed firms. The Energy Journal, 41 (3), https://doi.org/10.5547/01956574.41.3.ggar
Gonseth, C., Cadot, O., Mathys, N. A., & Thalmann, P., (2015). Energy-tax changes and competitiveness: The role of adaptive capacity. Energy Economics, 48, 127–135. https://doi.org/10.1016/j.eneco.2014.12.010
Healy, S., Schumacher, K., & Eichhammer, W., (2018). Analysis of carbon leakage under phase III of the EU emissions trading system: Trading patterns in the cement and aluminium sectors. Energies, 11 (5). 1231. https://doi.org/10.3390/en11051231
Hille, E., & Möbius, P., (2019). Do energy prices affect employment? Decomposed international evidence. Journal of Environmental Economics and Management, 96, 1–21. https://doi.org/10.1016/j.jeem.2019.04.002
Jaraite, J., & Di Maria, C., (2016). Did the EU ETS make a difference? An empirical assessment using Lithuanian firm-level data. The Energy Journal, 37 (1), 1–23. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2382663
Joltreau, E., & Sommerfeld, K., (2019). Why does emissions trading under the EU emissions trading system (ETS) not affect firms’ competitiveness? Empirical findings from the literature. Climate Policy, 19 (4), 453–471. https://doi.org/10.1080/14693062.2018.1502145
Kahn, M. E., & Mansur, E. T., (2013). Do local energy prices and regulation affect the geographic concentration of employment? Journal of Public Economics, 101 (1), 105–114. https://doi.org/10.1016/j.jpubeco.2013.03.002
Kahneman, D., Knetsch, J., & Thaler, R., (1990). Experimental tests of the endowmend effect and the coase theorem. The Journal of Political Economy, 98 (6), 1325–1348. https://doi.org/10.1086/261737
Klemetsen, M., Rosendahl, K., & Jakobsen, A., (2016). The impacts of the EU ETS on Norwegian plants’ environmental and economic performance (Discussion Papers No. 833). Statistics Norway, Research Department. https://brage.bibsys.no/xmlui/handle/11250/2570307
Koch, N., & Basse Mama, H., (2016). European climate policy and industrial relocation: Evidence from German multinational firms (SSRN working paper). https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2868283
Kumar, S., & Prabhakar, P., (2020). Industrial energy prices and export competitiveness: Evidence from India. Environmental Economics and Policy Studies, 22 (1), 1–20. https://doi.org/10.1007/s10018-019-00244-8
Ley, M., Stucki, T., & Woerter, M., (2016). The impact of energy prices on green innovation. The Energy Journal, 37 (1), 41–75. https://doi.org/10.2991/icemet-16.2016.77
Löschel, A., Lutz, B., & Managi, S., (2018). The impacts of the EU ETS on efficiency and economic performance–An empirical analyses for German manufacturing firms. Resource and Energy Economics, https://doi.org/10.1016/j.reseneeco.2018.03.001
Lundgren, T., Marklund, P., Samakovlis, E., & Zhou, W., (2015). Carbon prices and incentives for technological development. Journal of Environmental Management, 150, 393–403. https://www.sciencedirect.com/science/article/pii/S0301479714005921
Lutz, B., (2016). Emissions trading and productivity: Firm-level evidence from German manufacturing (Discussion Paper 16-067). Centre for European Economic Research. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2850541
Makridou, G., Doumpos, M., & Galariotis, E., (2019). The financial performance of firms participating in the EU emissions trading scheme. Energy Policy, 129, 250–259. https://doi.org/10.1016/j.enpol.2019.02.026
Marin, G., Marino, M., & Pellegrin, C., (2018). The impact of the European emission trading scheme on multiple measures of economic performance. Environmental and Resource Economics, 71 (2), 551–582. https://doi.org/10.1007/s10640-017-0173-0
Martin, R., de Preux, L. B., & Wagner, U. J., (2014). The impact of a carbon tax on manufacturing: Evidence from microdata. Journal of Public Economics, 117, 1–14. https://doi.org/10.1016/j.jpubeco.2014.04.016
Martin, R., Muûls, M., Laure, L. B., & Wagner, U. J., (2014). Industry compensation under relocation risk: A firm-level analysis of the EU emissions trading scheme. American Economic Review, 104 (8), 2482–2508. https://doi.org/10.1257/aer.104.8.2482
Martin, R., Muûls, M., & Wagner, U., (2016). The impact of the European Union emissions trading scheme on regulated firms: What is the evidence after ten years? Review of Environmental Economics and Policy, 10 (1), 129–148. https://doi.org/10.1093/reep/rev016
Mo, J., Zhu, L., & Fan, Y., (2012). The impact of the EU ETS on the corporate value of European electricity corporations. Energy, 45 (1), 3–11. https://www.sciencedirect.com/science/article/pii/S0360544212001326
Moreno, B., & Pereira da Silva, P., (2016). How do Spanish polluting sectors' stock market returns react to European Union allowances prices? A panel data approach. Energy, 103, 240–250. https://doi.org/10.1016/j.energy.2016.02.094
Nachtigall, D., (2019). Dynamic climate policy under firm relocation: The implications of phasing out free allowances. Environmental and Resource Economics, 74 (1), 473–503. https://doi.org/10.1007/s10640-019-00326-x
Naegele, H., & Zaklan, A., (2019). Does the EU ETS cause carbon leakage in European manufacturing? Journal of Environmental Economics and Management, 93, 125–147. https://doi.org/10.1016/j.jeem.2018.11.004
Oberndorfer, U., (2008). EU emission allowances and the stock market: Evidence from the electricity industry. Ecological Economics, 68 (4), 1116–1126. https://doi.org/10.1016/j.ecolecon.2008.07.026
OECD. (2018). Effective carbon rates: Pricing CO2 through taxes and emissions trading systems.
OECD. (2019). Taxing energy use 2019: Using taxes for climate action. https://doi.org/10.1787/058ca239-en
Pereira da Silva, P., Moreno, B., & Carvalho, N., (2016). Firm-specific impacts of CO2 prices on the stock market value of the Spanish power industry. Energy Policy, 94, 492–501. https://doi.org/10.1016/j.enpol.2016.01.005
Petrick, S., & Wagner, U., (2014). The impact of carbon trading on industry: Evidence from German manufacturing firms (Kiel Working Paper, No. 1912).
Porter, M., & van der Linde, C., (1995). Toward a new conception of the environment-competitiveness relationship. Journal of Economic Perspectives, 9 (4), 97–118. https://doi.org/10.1257/jep.9.4.97
Rammer, C., Gottschalk, S., Peneder, M., Wörter, M., Stucki, T., & Arvanitis, S., (2017). Does energy policy hurt international competitiveness of firms? A comparative study for Germany, Switzerland and Austria. Energy Policy, 109, 154–180. https://doi.org/10.1016/j.enpol.2017.06.062
Reinaud, J., (2008). Climate policy and carbon leakage, impacts of the European emissions trading scheme on aluminium (IEA Information Paper).
Rentschler, J., & Kornejew, M., (2017). Energy price variation and competitiveness: Firm level evidence from Indonesia. Energy Economics, 67, 242–254. https://doi.org/10.1016/j.eneco.2017.08.015
Rivers, N., & Schaufele, B., (2015). Salience of carbon taxes in the gasoline market. Journal of Environmental Economics and Management, 74, 23–36. https://doi.org/10.1016/j.jeem.2015.07.002
Sartor, O., (2012). Carbon leakage in the primary aluminium sector: What evidence after 6 ½ years of the EU ETS? In CDC climat research working paper 2012–12 (pp. 1–20). CDC Climat Reserach.
Sato, M., & Dechezleprêtre, A., (2015). Asymmetric industrial energy prices and international trade. Energy Economics, 52, S130–S141. https://doi.org/10.1016/j.eneco.2015.08.020
Sato, M., Singer, G., Dussaux, D., & Lovo, S., (2019). International and sectoral variation in industrial energy prices 1995–2015. Energy Economics, 78, 235–258. https://doi.org/10.1016/j.eneco.2018.11.008
Scott, K. R., (2012). Rational habits in gasoline demand. Energy Economics, 34 (5), 1713–1723. https://doi.org/10.1016/j.eneco.2012.02.007
Sijm, J., Hers, J. S., Lise, W., & Wetzelaer, B. J. H. W., (2008). The impact of the EU ETS on electricity prices–final report to DG environment of the European commission. Energy Research Centre of the Netherlands.
Tian, Y., Akimov, A., Roca, E., & Wong, V., (2016). Does the carbon market help or hurt the stock price of electricity companies? Further evidence from the European context. Journal of Cleaner Production, 112, 1619–1626. https://www.sciencedirect.com/science/article/pii/S0959652615009087
Veith, S., Werner, J., & Zimmermann, J., (2009). Capital market response to emission rights returns: Evidence from the European power sector. Energy Economics, 31 (4), 605–613. https://doi.org/10.1016/j.eneco.2009.01.004
Venmans, F., (2015). Capital market response to emission allowance prices: A multivariate GARCH approach. Environmental Economics and Policy Studies, 17 (4), 577–620. https://doi.org/10.1007/s10018-015-0105-6
Venmans, F., (2016). The effect of allocation above emissions and price uncertainty on abatement investments under the EU ETS. Journal of Cleaner Production, 126, 595–606. https://doi.org/10.1016/j.jclepro.2016.02.108
Verde, S. F., (2018). The impact of the EU emissions trading system on competitiveness and carbon leakage (EUI Working Paper RSCAS 2018/53). https://doi.org/10.2139/ssrn.3293767
Verde, S. F., Teixidó, J., Marcantonini, C., & Labandeira, X., (2019). Free allocation rules in the EU emissions trading system: What does the empirical literature show? Climate Policy, 19 (4), 439–452. https://doi.org/10.1080/14693062.2018.1549969
Wagner, Ulrich, Muuls, Mirabelle, Martin, Ralph, & Colmer, Jonathan., (2014). The causal effects of the European Union emissions trading scheme: Evidence from French manufacturing plants.
Ward, J., Sammon, P., Peszko, G., Kennedy, P.M., Wienges, S, Prytz, N, & Partnership for Market Readiness. (2015). Carbon leakage: theory, evidence, and policy design (No. 100369, pp. 1-96). In Technical note 11. World Bank.
World Bank and Ecofys. (2018). State and trends of carbon pricing 2018. World Bank. https://doi.org/10.1596/978-1-4648-1292-7
Yamazaki, A., (2017). Jobs and climate policy: Evidence from British Columbia’s revenue-neutral carbon tax. Journal of Environmental Economics and Management, 83, 197–216. https://doi.org/10.1016/j.jeem.2017.03.003
Yu, H., (2013). The EU ETS and firm profits: An ex-post analysis for Swedish energy firms. Environmental Economics.
Zhang, Z., & Zhang, Z., (2017). Intermediate input linkage and carbon leakage. Environment and Development Economics, 22 (6), 725–746. https://doi.org/10.1017/S1355770X17000250
