메뉴 건너뛰기




Volumn 39, Issue 3, 2011, Pages 1056-1069

EUA and sCER phase II price drivers: Unveiling the reasons for the existence of the EUA-sCER spread

Author keywords

Arbitrage; Emissions markets; EUA sCER spread

Indexed keywords

ARBITRAGE; CLEAN DEVELOPMENT MECHANISM; EMISSIONS MARKETS; EMISSIONS REDUCTION; EU EMISSIONS; EU EMISSIONS TRADING SCHEME; EUA-SCER SPREAD; KYOTO PROTOCOL; MARKET MICROSTRUCTURES; PHASE II; PRICE DIFFERENCE;

EID: 79952068958     PISSN: 03014215     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.enpol.2010.10.047     Document Type: Article
Times cited : (104)

References (29)
  • 1
    • 67349181916 scopus 로고    scopus 로고
    • European carbon prices and banking restrictions: evidence from phase I (2005-2007)
    • Alberola E., Chevallier J. European carbon prices and banking restrictions: evidence from phase I (2005-2007). The Energy Journal 2009, 30(3):51-80.
    • (2009) The Energy Journal , vol.30 , Issue.3 , pp. 51-80
    • Alberola, E.1    Chevallier, J.2
  • 2
    • 38049150796 scopus 로고    scopus 로고
    • Price drivers and structural breaks in European carbon prices 2005-07
    • Alberola E., Chevallier J., Chèze B. Price drivers and structural breaks in European carbon prices 2005-07. Energy Policy 2008, 36(2):787-797.
    • (2008) Energy Policy , vol.36 , Issue.2 , pp. 787-797
    • Alberola, E.1    Chevallier, J.2    Chèze, B.3
  • 3
    • 64749115428 scopus 로고    scopus 로고
    • Emissions compliances and carbon prices under the EU ETS: a country specific analysis of industrial sectors
    • Alberola E., Chevallier J., Chèze B. Emissions compliances and carbon prices under the EU ETS: a country specific analysis of industrial sectors. Journal of Policy Modeling 2009, 31(3):446-462.
    • (2009) Journal of Policy Modeling , vol.31 , Issue.3 , pp. 446-462
    • Alberola, E.1    Chevallier, J.2    Chèze, B.3
  • 4
    • 77950642091 scopus 로고    scopus 로고
    • The EU emissions trading scheme: the effects of industrial production and CO2 emissions on European carbon prices
    • Alberola E., Chevallier J., Chèze B. The EU emissions trading scheme: the effects of industrial production and CO2 emissions on European carbon prices. International Economics 2009, 116:95-128.
    • (2009) International Economics , vol.116 , pp. 95-128
    • Alberola, E.1    Chevallier, J.2    Chèze, B.3
  • 5
    • 84977364496 scopus 로고
    • Agency costs, net worth and business fluctuations
    • Bernanke B., Gertler M. Agency costs, net worth and business fluctuations. American Economic Review 1989, 79:14-31.
    • (1989) American Economic Review , vol.79 , pp. 14-31
    • Bernanke, B.1    Gertler, M.2
  • 6
    • 67249139809 scopus 로고    scopus 로고
    • Rolling over stock index futures contracts
    • Carchano O., Pardo A. Rolling over stock index futures contracts. Journal of Futures Markets 2009, 29:684-694.
    • (2009) Journal of Futures Markets , vol.29 , pp. 684-694
    • Carchano, O.1    Pardo, A.2
  • 7
    • 67349218423 scopus 로고    scopus 로고
    • Carbon futures and macroeconomic risk factors: a view from the EU ETS
    • Chevallier J. Carbon futures and macroeconomic risk factors: a view from the EU ETS. Energy Economics 2009, 31(4):614-625.
    • (2009) Energy Economics , vol.31 , Issue.4 , pp. 614-625
    • Chevallier, J.1
  • 8
    • 57049163168 scopus 로고    scopus 로고
    • Risk aversion and institutional information disclosure on the European carbon market: a case-study of the 2006 compliance event
    • Chevallier J., Ielpo F., Mercier L. Risk aversion and institutional information disclosure on the European carbon market: a case-study of the 2006 compliance event. Energy Policy 2009, 37(1):15-28.
    • (2009) Energy Policy , vol.37 , Issue.1 , pp. 15-28
    • Chevallier, J.1    Ielpo, F.2    Mercier, L.3
  • 9
    • 0242369007 scopus 로고    scopus 로고
    • Yield spreads on EMU government bonds
    • Codogno L., Favero C., Missale A. Yield spreads on EMU government bonds. Economic Policy 2003, 18(37):503-532.
    • (2003) Economic Policy , vol.18 , Issue.37 , pp. 503-532
    • Codogno, L.1    Favero, C.2    Missale, A.3
  • 11
    • 41949115545 scopus 로고    scopus 로고
    • Credit spread determinants: an 85 year perspective
    • Davies A. Credit spread determinants: an 85 year perspective. Journal of Financial Markets 2008, 11(2):180-197.
    • (2008) Journal of Financial Markets , vol.11 , Issue.2 , pp. 180-197
    • Davies, A.1
  • 12
    • 79952073933 scopus 로고    scopus 로고
    • Short-Term CO2 Abatement in the European Power Sector. MIT CEEPR Working Paper #2008-008.
    • Delarue, E.D., Ellerman, A.D., D'haeseleer, W., 2008. Short-Term CO2 Abatement in the European Power Sector. MIT CEEPR Working Paper #2008-008.
    • (2008)
    • Delarue, E.D.1    Ellerman, A.D.2    D'haeseleer, W.3
  • 13
    • 79952072616 scopus 로고    scopus 로고
    • A Top-down and Bottom-up Look at Emissions Abatement in Germany in Response to the EU ETS. MIT CEEPR Working Paper #2008-017.
    • Ellerman, A.D., Feilhauer, S., 2008. A Top-down and Bottom-up Look at Emissions Abatement in Germany in Response to the EU ETS. MIT CEEPR Working Paper #2008-017.
    • (2008)
    • Ellerman, A.D.1    Feilhauer, S.2
  • 14
    • 31344438932 scopus 로고    scopus 로고
    • Size matters for liquidity: evidence from EMU sovereign yield spreads
    • Gómez-Puig M. Size matters for liquidity: evidence from EMU sovereign yield spreads. Economics Letters 2006, 90:156-162.
    • (2006) Economics Letters , vol.90 , pp. 156-162
    • Gómez-Puig, M.1
  • 15
    • 84981579311 scopus 로고
    • Maximum likelihood estimation and inference on cointegration with applications to the demand for money
    • Johansen S., Juselius K. Maximum likelihood estimation and inference on cointegration with applications to the demand for money. Oxford Bulletin of Economics and Statistics 1990, 52:169-210.
    • (1990) Oxford Bulletin of Economics and Statistics , vol.52 , pp. 169-210
    • Johansen, S.1    Juselius, K.2
  • 16
    • 0000158117 scopus 로고
    • Estimation and hypothesis testing of cointegrating vectors in Gaussian vector autoregressive models
    • Johansen S. Estimation and hypothesis testing of cointegrating vectors in Gaussian vector autoregressive models. Econometrica 1991, 59:1551-1580.
    • (1991) Econometrica , vol.59 , pp. 1551-1580
    • Johansen, S.1
  • 17
    • 79952070834 scopus 로고    scopus 로고
    • Do Energy Prices Respond to US Macroeconomic News? A Test of the Hypothesis of Predetermined Energy Prices. Review of Economics and Statistics, forthcoming.
    • Kilian, L., Vega, C., 2010. Do Energy Prices Respond to US Macroeconomic News? A Test of the Hypothesis of Predetermined Energy Prices. Review of Economics and Statistics, forthcoming.
    • (2010)
    • Kilian, L.1    Vega, C.2
  • 18
    • 48949118016 scopus 로고    scopus 로고
    • Is the value spread a useful predictor of returns?
    • Liu N., Zhang L. Is the value spread a useful predictor of returns?. Journal of Financial Markets 2008, 11(3):199-227.
    • (2008) Journal of Financial Markets , vol.11 , Issue.3 , pp. 199-227
    • Liu, N.1    Zhang, L.2
  • 19
    • 12144291197 scopus 로고    scopus 로고
    • Testing for the cointegrating rank of a VAR with level shift at unknown time
    • Lutkepohl H., Saikkonen P., Trenkler C. Testing for the cointegrating rank of a VAR with level shift at unknown time. Econometrica 2004, 72(2):647-662.
    • (2004) Econometrica , vol.72 , Issue.2 , pp. 647-662
    • Lutkepohl, H.1    Saikkonen, P.2    Trenkler, C.3
  • 20
    • 0000215887 scopus 로고    scopus 로고
    • Market microstructure: a survey
    • Madhavan A. Market microstructure: a survey. Journal of Financial Markets 2000, 3(3):205-258.
    • (2000) Journal of Financial Markets , vol.3 , Issue.3 , pp. 205-258
    • Madhavan, A.1
  • 21
    • 64349097309 scopus 로고    scopus 로고
    • What drives spreads in the euro area government bond market?
    • Manganelli S., Wolswijk G. What drives spreads in the euro area government bond market?. Economic Policy 2009, 24(58):191-240.
    • (2009) Economic Policy , vol.24 , Issue.58 , pp. 191-240
    • Manganelli, S.1    Wolswijk, G.2
  • 24
    • 0036309079 scopus 로고    scopus 로고
    • Modeling credit spreads: an application to the sterling Eurobond market
    • Manzoni K. Modeling credit spreads: an application to the sterling Eurobond market. International Review of Financial Analysis 2002, 11:183-218.
    • (2002) International Review of Financial Analysis , vol.11 , pp. 183-218
    • Manzoni, K.1
  • 26
    • 79952070446 scopus 로고    scopus 로고
    • How Many CERs by 2013. Mission Climat Working Paper 2009-5.
    • Trotignon, R., Leguet, B., 2009. How Many CERs by 2013. Mission Climat Working Paper 2009-5.
    • (2009)
    • Trotignon, R.1    Leguet, B.2
  • 28
    • 79952071403 scopus 로고    scopus 로고
    • Corporate Bond Spreads and the Business Cycle. Bank of Canada Working Paper #2002-15.
    • Zhang, Z., 2002. Corporate Bond Spreads and the Business Cycle. Bank of Canada Working Paper #2002-15.
    • (2002)
    • Zhang, Z.1
  • 29
    • 28444488750 scopus 로고
    • Further evidence on the great crash, the oil-price shock, and the unit-root hypothesis
    • Zivot E., Andrews D.W.K. Further evidence on the great crash, the oil-price shock, and the unit-root hypothesis. Journal of Business & Economic Statistics 1992, 10(3):251-270.
    • (1992) Journal of Business & Economic Statistics , vol.10 , Issue.3 , pp. 251-270
    • Zivot, E.1    Andrews, D.W.K.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.