Chevallier, Julien; Pen, Yannick Le; Sévi, Benoît - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2009
To improve risk management in the European Union Emissions Trading Scheme (EU ETS), the European Climate Exchange (ECX … we identify a potential destabilizing effect of the introduction of options on the underlying market (EU ETS futures … empirical question, we use daily data from April 2005 to April 2008 to document volatility behavior in the EU ETS. By …