{"id":70302,"date":"2023-10-26T09:33:31","date_gmt":"2023-10-26T08:33:31","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=publication&p=70302"},"modified":"2024-08-19T14:26:19","modified_gmt":"2024-08-19T13:26:19","slug":"the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review","status":"publish","type":"publication","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/","title":{"rendered":"The market stability reserve in the EU emissions trading system: a critical review"},"content":{"rendered":"\n

Having experienced low prices for about a decade, the European Union Emissions Trading System has been supplemented with the market stability reserve (MSR) that adjusts the supply of allowances to market outcomes. We critically review the literature assessing the performance of the MSR against several policy objectives. In doing so, we cover both conceptual aspects and quantitative assessments. We conclude by pointing out important policy implications and open issues for further research.<\/p>\n\n\n\n

Borghesi, Simone, Pahle, Michael, Perino, Grischa, Quemin, Simon and Willner, Maximilian (2023) The market stability reserve in the EU emissions trading system: a critical review.<\/em> Annual Review of Resource Economics, 15. pp. 131-152. ISSN 1941-1340<\/strong><\/p>\n\n","protected":false},"excerpt":{"rendered":"\n

The authors of this paper critically review the literature assessing the performance of the MSR against several policy objectives.<\/p>\n\n","protected":false},"author":12,"featured_media":0,"template":"","tags":[98,1706],"publication-type":[436],"topic_area":[4694],"class_list":["post-70302","publication","type-publication","status-publish","hentry","tag-eu-ets","tag-market-stability-reserve","publication-type-research-articles","topic_area-policy-evaluation"],"acf":{"exclude_from_sync":{"ref_value":"field_560538b0e7350","value":"0","type":false,"post_type":""},"show_translations_widget":{"ref_value":"field_6203d588c41e8","value":"0","type":false,"post_type":""},"downloads":{"ref_value":"field_52f16cc1a80f2","value":false,"type":"repeater","post_type":""},"rss_newsletter":{"ref_value":"field_54f5c2c1544d8","value":"","type":false,"post_type":""},"profile_link":{"ref_value":"field_52f164b5189e9","value":["simon-quemin-2"],"type":"relationship","post_type":"profile"},"article_link":{"ref_value":"field_52eee3c7f0586","value":"https:\/\/eprints.lse.ac.uk\/120548\/","type":false,"post_type":""},"article_link_title":{"ref_value":"field_5322399d89d42","value":"External link to paper","type":false,"post_type":""},"spotlight":{"ref_value":"field_52f80896506d3","value":"","type":false,"post_type":""}},"yoast_head":"\nThe market stability reserve in the EU emissions trading system: a critical review - Grantham Research Institute on climate change and the environment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The market stability reserve in the EU emissions trading system: a critical review - Grantham Research Institute on climate change and the environment\" \/>\n<meta property=\"og:description\" content=\"The authors of this paper critically review the literature assessing the performance of the MSR against several policy objectives.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/\" \/>\n<meta property=\"og:site_name\" content=\"Grantham Research Institute on climate change and the environment\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-19T13:26:19+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\\\/\",\"url\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\\\/\",\"name\":\"The market stability reserve in the EU emissions trading system: a critical review - Grantham Research Institute on climate change and the environment\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/#website\"},\"datePublished\":\"2023-10-26T08:33:31+00:00\",\"dateModified\":\"2024-08-19T13:26:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\\\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Publications\",\"item\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/?post_type=publication\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"All research\",\"item\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication-type\\\/new-research\\\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Research article\",\"item\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication-type\\\/research-articles\\\/\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"The market stability reserve in the EU emissions trading system: a critical review\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/#website\",\"url\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/\",\"name\":\"Grantham Research Institute on climate change and the environment\",\"description\":\"The Grantham Research Institute at LSE carries out world-class research on climate change and the environment.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The market stability reserve in the EU emissions trading system: a critical review - Grantham Research Institute on climate change and the environment","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/","og_locale":"en_GB","og_type":"article","og_title":"The market stability reserve in the EU emissions trading system: a critical review - Grantham Research Institute on climate change and the environment","og_description":"The authors of this paper critically review the literature assessing the performance of the MSR against several policy objectives.","og_url":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/","og_site_name":"Grantham Research Institute on climate change and the environment","article_modified_time":"2024-08-19T13:26:19+00:00","twitter_card":"summary_large_image","twitter_misc":{"Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/","url":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/","name":"The market stability reserve in the EU emissions trading system: a critical review - Grantham Research Institute on climate change and the environment","isPartOf":{"@id":"https:\/\/www.lse.ac.uk\/granthaminstitute\/#website"},"datePublished":"2023-10-26T08:33:31+00:00","dateModified":"2024-08-19T13:26:19+00:00","breadcrumb":{"@id":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/the-market-stability-reserve-in-the-eu-emissions-trading-system-a-critical-review\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.lse.ac.uk\/granthaminstitute\/"},{"@type":"ListItem","position":2,"name":"Publications","item":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=publication"},{"@type":"ListItem","position":3,"name":"All research","item":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication-type\/new-research\/"},{"@type":"ListItem","position":4,"name":"Research article","item":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication-type\/research-articles\/"},{"@type":"ListItem","position":5,"name":"The market stability reserve in the EU emissions trading system: a critical review"}]},{"@type":"WebSite","@id":"https:\/\/www.lse.ac.uk\/granthaminstitute\/#website","url":"https:\/\/www.lse.ac.uk\/granthaminstitute\/","name":"Grantham Research Institute on climate change and the environment","description":"The Grantham Research Institute at LSE carries out world-class research on climate change and the environment.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"}]}},"taxonomies":{"post_tag":["EU ETS","market stability reserve"],"publication-type":["Research article"],"topic_area":["Policy evaluation"]},"_links":{"self":[{"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/publication\/70302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/publication"}],"about":[{"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/types\/publication"}],"author":[{"embeddable":true,"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/users\/12"}],"version-history":[{"count":2,"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/publication\/70302\/revisions"}],"predecessor-version":[{"id":70304,"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/publication\/70302\/revisions\/70304"}],"wp:attachment":[{"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/media?parent=70302"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/tags?post=70302"},{"taxonomy":"publication-type","embeddable":true,"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/publication-type?post=70302"},{"taxonomy":"topic_area","embeddable":true,"href":"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-json\/wp\/v2\/topic_area?post=70302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}