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First evidence of asymmetric cost pass-through of EU emissions allowances: Examining wholesale electricity prices in Germany

  • Zachmann, Georg
  • von Hirschhausen, Christian

We test the hypothesis that rising prices of emission allowances have a stronger impact on wholesale electricity prices than falling prices (asymmetric cost pass-through). Using an autoregressive distributed lag model, we confirm this hypothesis for the German market.

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File URL: http://www.sciencedirect.com/science/article/B6V84-4PP771Y-3/1/92fd74386b3adc3607632cd69c385766
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 99 (2008)
Issue (Month): 3 (June)
Pages: 465-469

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Handle: RePEc:eee:ecolet:v:99:y:2008:i:3:p:465-469
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Jos Sijm & Karsten Neuhoff & Yihsu Chen, 2006. "CO 2 cost pass-through and windfall profits in the power sector," Climate Policy, Taylor & Francis Journals, vol. 6(1), pages 49-72, January.
  2. Kaufmann, Robert K. & Laskowski, Cheryl, 2005. "Causes for an asymmetric relation between the price of crude oil and refined petroleum products," Energy Policy, Elsevier, vol. 33(12), pages 1587-1596, August.
  3. Sam Peltzman, 1998. "Prices Rise Faster Than They Fall," University of Chicago - George G. Stigler Center for Study of Economy and State 142, Chicago - Center for Study of Economy and State.
  4. Borenstein, Severin & Cameron, A Colin & Gilbert, Richard, 1997. "Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 305-39, February.
  5. Meyer, Jochen & von Cramon-Taubadel, Stephan, 2002. "Asymmetric Price Transmission: A Survey," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24822, European Association of Agricultural Economists.
  6. Giliola Frey & Matteo Manera, 2007. "Econometric Models Of Asymmetric Price Transmission," Journal of Economic Surveys, Wiley Blackwell, vol. 21(2), pages 349-415, 04.
  7. Nathan S. Balke & Stephen P. A. Brown & Mine YĆ¼cel, 1998. "Crude oil and gasoline prices: an asymmetric relationship?," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q 1, pages 2-11.
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