Factors affecting the carbon allowance market in the US
AbstractThe US carbon allowance market has different characteristic and price determination process from the EU ETS market, since emitting installations voluntarily participate in emission trading scheme. This paper examines factors affecting the US carbon allowance market. An autoregressive distributed lag model is used to examine the short- and long-run relationships between the US carbon allowance market and its determinant factors. In the long-run, the price of coal is a main factor in the determination of carbon allowance trading. In the short-run, on the other hand, the changes in crude oil and natural gas prices as well as coal price have significant effects on carbon allowance market.
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Bibliographic InfoArticle provided by Elsevier in its journal Energy Policy.
Volume (Year): 38 (2010)
Issue (Month): 4 (April)
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Web page: http://www.elsevier.com/locate/enpol
Carbon allowance Greenhouse gas Voluntary market;
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- Shawkat Hammoudeh & Amine Lahiani & Duc Khuong Nguyen & Ricardo M. Sousa, 2014. "Energy prices and CO2 emission allowance prices: A quantile regression approach," NIPE Working Papers 06/2014, NIPE - Universidade do Minho.
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- Sabbaghi, Omid & Sabbaghi, Navid, 2011. "Carbon Financial Instruments, thin trading, and volatility: Evidence from the Chicago Climate Exchange," The Quarterly Review of Economics and Finance, Elsevier, vol. 51(4), pages 399-407.
- Shawkat Hammoudeh & Amine Lahiani & Duc Khuong Nguyen & Ricardo M. Sousa, 2014.
"Asymmetric and nonlinear pass-through of energy prices to CO2 emission allowance prices,"
NIPE Working Papers
05/2014, NIPE - Universidade do Minho.
- Shawkat Hammoudeh & Amine Lahiani & Duc Khuong Nguyen & Ricardo M. Sousa, 2014. "Asymmetric and nonlinear passthrough of energy prices to CO2 emission allowance prices," Working Papers 2014-082, Department of Research, Ipag Business School.
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