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This paper, first, empirically investigates European emission allowance (EUA) prices and, second, evaluates emission trading as a policy measure. Applying combined jump GARCH models yields strong evidence of conditional jump behavior. This implies that EUA prices are subject to unexpected...
Persistent link: https://www.econbiz.de/10003854402
Strategic market behavior by permit sellers will harm the European Union as the EU as a whole is expected to become a … large net buyer of permits in a follow-up agreement to the Kyoto Protocol. In this paper we explore how the EU could benefit … from making permit trade agreements with non-EU countries. These trade agreements involve a minimum permit sales …
Persistent link: https://www.econbiz.de/10003888057
Handelssystems für Kohlendixiod-Emissionen vor, um die von der EU-Kommission vorgegebenen Ziele von durchschnittlich 130 Gramm CO2 …
Persistent link: https://www.econbiz.de/10003429485
zu fördern. Till Requate, Universität Kiel, ist skeptisch. Zwar sei das jüngst formulierte Ziel der EU, den CO2-Ausstoß … übernehmen als die, die es gerade im Rahmen der EU eingegangen ist, und sich auf der Grundlage der so gewonnenen Glaubwürdigkeit … intensiv bemühen, die EU-Partner ebenso wie die übrigen Großemittenten zu einer effektiven Kooperation zu bewegen. Eine …
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We assess the role of national fiscal policies, as automatic stabilizers, within a monetary union. We use a two-country New Keynesian DGE model which incorporates non-Ricardian consumers (as in Galì et al. 2004) and a home bias in the composition of national consumption bundles. We find that...
Persistent link: https://www.econbiz.de/10003301196
This paper applies different copulas in order to investigate the complex dependence structure between EU emission …
Persistent link: https://www.econbiz.de/10009011778