Charles, Amélie; Darné, Olivier; Fouilloux, Jessica - In: Economic Modelling 28 (2011) 1-2, pp. 27-35
This study examines the martingale difference hypothesis (MDH) for the carbon emission allowance market within the European Union Emission Trading Scheme (EU ETS) during the Phase I and the Phase II, using both daily and weekly data over the 2005-2009 period. We analyze the MDH for spot prices...
