Caporin, Massimiliano; Fontini, Fulvio; Segato, Samuele - In: International Journal of Financial Studies 9 (2021) 4, pp. 1-15
EU-ETS, which started in 2013, and for two-year rolling windows that account for changes over time of the pass … the EU-ETS has been increasingly more effective in endogenizing emission costs for power producers, inducing them to … impulse response functions hardly supports this finding, eventually casting doubts on the effectiveness of the EU-ETS in Italy …