Borak, Szymon; Härdle, Wolfgang; Trück, Stefan; … - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2006
In January 2005 the EU-wide CO2 emissions trading system (EU-ETS) has formally entered into operation.Within the new … trading system, the right to emit a particular amount of CO2 becomes a tradable commodity - called EU Allowances (EUAs) - and … yields can be interpreted as market expectation on the price risk of CO2 emissions allowance prices and the uncertainty of EU …