Evaluating Emission Trading as a Policy Tool - Evidence from Conditional Jump Models

This paper, first, empirically investigates European emission allowance (EUA) prices and, second, evaluates emission trading as a policy measure. Applying combined jump GARCH models yields strong evidence of conditional jump behavior. This implies that EUA prices are subject to unexpected movements...

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Bibliographic details
Main Author: Gronwald, Marc
Ketterer, Janina C
Format: Paper
Language: English
Place of publication: 2009
Related: CESifo Group Munich
Data of publication: 2009
Series: CESifo Working Paper Series
Online Access: available in Bonn?
Database: RePEc IDEAS
Database information Databases - DBIS