Impact of banking and forward contracts on tradable permit markets

This article assesses the effects of banking on tradable emission permit markets and, in particular, the role of uncertainty in permit markets that allow banking. In such markets, current and future spot trade markets are linked: An increase in uncertainty about future spot markets at first lowers spot prices due to the presence of unregulated agents but soon spurs an increase in spot prices. Copyright Springer Japan 2004

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Year of publication:	2004
Authors:	Maeda, Akira
Published in:	Environmental Economics and Policy Studies. - Society for Environmental Economics and Policy Studies - SEEPS. - Vol. 6.2004, 2, p. 81-102
Publisher:	Society for Environmental Economics and Policy Studies - SEEPS
Subject:	Tradable permits \| Emissions trading \| Forward contracts \| Banking \| Uncertainty

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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