The determinants of allowance prices in the European emissions trading scheme: Can we expect an efficient allowance market 2008?

Arbeitspapier

The European emissions trading scheme (EU-ETS) for CO2 is the largest existing emissions trading scheme in the world. The main reason for the implementation of this scheme is to reach the European Kyoto targets at minimal cost and to establish a price for emissions. The right to emit CO2 therefore becomes a scarce production input. In this paper we want to analyze the determinants of the price for allowances in the EU-ETS and study whether it reacts to fundamental influence factors such as energy prices. The results show, that as long as the market viewed the allowances as a scarce input factor, the price reacts to changes in energy prices and weather variations.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Kiel Working Paper ; No. 1387

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes ; Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth ; Environmental Economics: Government Policy ; Climate; Natural Disasters and Their Management; Global Warming
• Thema: Allowance prices ; Energy prices ; Weather variation ; European Emissions Trading Scheme ; Emissionsrechte ; Preis ; Emissionshandel ; Energie ; Wetter ; EU-Staaten

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Rickels, Wilfried ; Duscha, Vicki ; Keller, Andreas ; Peterson, Sonja
• Ereignis: Veröffentlichung
• (wer): Kiel Institute for the World Economy (IfW)
• (wo): Kiel
• (wann): 2007

Weitere Informationen

• Handle: http://hdl.handle.net/10419/4099
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ