This paper examines the impacts of the EU Emissions Trading System (ETS) on the envi- ronmental and economic performance of Norwegian plants. The EU ETS is regarded as the cornerstone climate policy both in the EU and in Norway, but there has been considerable de- bate regarding its eects due to low quota prices and substantial allocation of free allowances to the manufacturing industry. Both quota prices and allocation rules have changed signicantly between the three phases of the ETS. The rich data allow us to investigate potential eects of the ETS on several important aspects of plant behavior. The results indicate a weak tendency of emissions reductions among Norwegian plants in the second phase of the ETS, but not in the other phases. We nd no signicant eects on emissions intensity in any of the phases, but positive eects on value added and productivity in the second phase. Positive eects on value added and productivity may be due to the large amounts of free allowances, and that plants may have passed on the additional marginal costs to consumers.

中文翻译：

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欧盟排放交易体系对挪威工厂的环境和经济绩效的影响

本文研究了欧盟排放交易系统（ETS）对挪威工厂的环境和经济绩效的影响。欧盟排放交易体系被视为欧盟和挪威的基石气候政策，但由于配额价格低以及向制造业分配的大量免费配额，其影响一直存在很大争议。在碳交易体系的三个阶段之间，配额价格和分配规则都发生了重大变化。丰富的数据使我们能够研究ETS在植物行为几个重要方面的潜在影响。结果表明，在排放交易体系第二阶段中，挪威工厂之间的减排趋势较弱，而在其他阶段则没有。我们发现任何阶段的排放强度均无明显影响，但在第二阶段对增值和生产力产生积极影响。大量的免费补贴可能会带来增值和生产力的积极影响，而工厂可能会将额外的边际成本转移给了消费者。