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Dr Luca Taschini

Research Fellow

Luca is an economist, working at the intersection of environmental economics, energy markets, and industrial organisation. His current research investigates how market-based environmental regulation - and emissions trading schemes in particular - are working in theory and in practice. More specifically, he is studying the functioning of price containment mechanisms, participation restrictions, the linkage of markets and the investigation of policy controls able to promote technology adoption.

Luca is Chair of the the Dahrendorf Economic Working Group|, looking at economics and climate change and he is leading the FP7 Entracte project| on the EU ETS reform.

He is also

 a visiting scholar at the Joint Program on the Science and Policy of Global Change (MIT)| and at the Research Center for Sustainability Science (Ritsumeikan University - Japan).

Background

Luca holds a PhD in finance from the University of Zurich.

Research programmes

Topic lead of 'Carbon markets and climate finance|'

Research interests

  • Permits market design, price manipulation and participation restrictions;
  • Experimental markets for emission permits;
  • Investment decisions under uncertainty;
  • Energy economics;
  • Real options.

Research articles

2013

Taschini, L., Chesney, C., and Wang, M. Forthcoming. Experimental comparison between markets on dynamic permit trading and investment in irreversible abatement with and without non-regulated companies. Journal of Regulatory Economics. External link to full article|

Chesney M., Gheyssens J., and Taschini L. 2013. Environmental Finance and Investments (book). Springer - forthcoming. External link to full article|

Parsons, J.E., and Taschini, L. The role of stocks and shocks concepts in the debate over price vs. quantity.

  • Published paper: Environmental and Resource Economics, v. 55, pp 71-86. External link to full article
  • Unpublished paper: March 2011. Working paper, Centre for Climate Change Economics and Policy, Leeds and London, UK. Download PDF of paper (1.30MB) 

Older

2012 

 

Chesney, M., and Taschini, L. The endogenous price dynamics of emission allowances and an application to CO2 option pricing. Applied Mathematical Finance, v.19, pp.447-475. External link to full article| 

 

Gruell, G. and Taschini, L. Linking emission trading schemes. Economics of Energy & Environmental Policy, v.1, pp.31-38. External link to full article|

 

Engel, S., Palmer, C., Taschini, L., and Urech, S. Cost-effective payments for reducing emissions from deforestation under uncertainty. Working paper, January 2012. Grantham Research Institute on Climate Change and the Environment, London, UK. Download PDF of paper|   

 

2011

 

Moreno-Bromberg, S., and Taschini, L. May 2011.  Pollution permits, strategic trading and dynamic technology adoption. Working paper, March 2011. Grantham Research Institute on Climate Change and the Environment, London, UK.  Download PDF of paper|

 

Chesney, C., Taschini, L., and Wang, M. Experimental comparison between markets on dynamic permit trading and investment in irreversible abatement with and without nonregulated companies. Working paper, March 2011. Grantham Research Institute on Climate Change and the Environment, London, UK. Download PDF of paper| 

 

Grüll G., and Taschini, L. Cap-and-trade properties under different hybrid scheme designs.

  • Published journal article: January 2011. Journal of Environmental Economics and Management, v.61, pp.107-118. External link to full article
  • Working paper: September 2010. Grantham Research Institute on Climate Change and the Environment, London, UK. Download PDF of paper

2010

 

Grull G., and Taschini, L. December 2010. A comparison of reduced-form permit price models and their empirical performances. Grantham Research Institute on Climate Change and the Environment, London, UK. Download PDF of paper|

 

Taschini, L. Environmental economics and modelling marketable permits.

  • Published journal article: December 2010. Asia-Pacific Financial Markets, v.17, pp.325-343. External link to full article
  • Working paper: September 2010. Grantham Research Institute on Climate Change and the Environment, London, UK. Download PDF of paper

Taschini, L., and Urech, S. Summer 2010. The real option to fuel switch in the presence of expected windfall profits under the EU Emission Trading Scheme (ETS). Journal of Energy Markets, v.3, pp.27-47. External link to full article| 

Policy articles

2013

Duffy C., Kollenberg S., and Taschini, L. November 2013. System responsiveness and the EU ETS. Policy paper for the Dahrendorf Symposium 2013, Grantham Research Institute.

Taschini L. February 2013. Options for structural measures to improve the European Union Emissions Trading System: response to a European Commission consultation. Grantham Research Institute. Download PDF of response| (463KB)

2012

Nakhooda, S., Carvalho, M., and Taschini, L. Mitigation finance. October 2012. Oversees Development Institute (ODI) working paper, London, UK. External link to full report|

UNFCCC. August 2012. Climate change, carbon markets and the CDM: a call to action. Report of the high-level panel on the CDM policy dialogue.

Hepburn, C., Chapman, S., Doda, B., Duffy, C., Fankhauser, S., Rydge, J., Smith, K., Taschini, L., and Vitelli, A. January 2012. The 'surrender charge' on international units in the Australian ETS. Policy paper, Grantham Research Institute on Climate Change and the Environment, London, UK. Download the policy paper|

Media articles

2013

Carbon tax vs. cap-and-trade: which is better?
|Taschini L., Dietz S., and Hicks N. Guardian’s Ultimate Climate Change FAQ, 2013  

More information

Contact details

  • Email
  • Telephone: +44 20 7107 5211
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Photograph of Luca Taschini