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dc.contributor.authorAlberola, Emilie
dc.contributor.authorChevallier, Julien
dc.contributor.authorChèze, Benoît
dc.date.accessioned2010-05-26T10:44:00Z
dc.date.available2010-05-26T10:44:00Z
dc.date.issued2008
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/4222
dc.language.isoenen
dc.subjectCO2en
dc.subjectMarket price fundamentalsen
dc.subjectEuropean Union Emissions Trading Schemeen
dc.subjectCarbon emissions tradingen
dc.subject.ddc333en
dc.subject.classificationjelQ49en
dc.subject.classificationjelQ48en
dc.subject.classificationjelQ43en
dc.titlePrice drivers and structural breaks in European carbon prices 2005-07en
dc.typeArticle accepté pour publication ou publié
dc.contributor.editoruniversityotherUniversité Paris 10;France
dc.contributor.editoruniversityotherUniversité Paris 10;France
dc.description.abstractenThis article aims at characterizing the daily price fundamentals of European Union Allowances (EUAs) traded since 2005 as part of the Emissions Trading Scheme (ETS). The presence of two structural changes on April 2006 following the disclosure of 2005 verified emissions and on October 2006 following the European Commission announcement of stricter Phase II allocation allows to isolate distinct fundamentals evolving overtime. The results extend previous literature by showing that EUA spot prices react not only to energy prices with forecast errors, but also to unanticipated temperatures changes during colder events. Besides, the sub-period decomposition of the pilot phase gives a better grasp of institutional and market events that drive allowance price changes.en
dc.relation.isversionofjnlnameEnergy Policy
dc.relation.isversionofjnlvol36en
dc.relation.isversionofjnlissue2en
dc.relation.isversionofjnldate2008-02
dc.relation.isversionofjnlpages787-797en
dc.relation.isversionofdoihttp://dx.doi.org/10.1016/j.enpol.2007.10.029en
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelEconomie de la terre et des ressources naturellesen


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