Download Carbon Finance: How Carbon and Stock Markets are affected by by Yulia Veld-Merkoulova, Svetlana Viteva PDF

By Yulia Veld-Merkoulova, Svetlana Viteva

ISBN-10: 3319254103

ISBN-13: 9783319254104

ISBN-10: 331925412X

ISBN-13: 9783319254128

Maximizing reader insights into the methodologies and state of the art learn in regards to the monetary facets of carbon markets, this e-book analyzes the industrial and fiscal results of carbon buying and selling and rules at the inventory industry costs of person businesses in addition to the joint results of laws and of the costs of oil and fuel at the costs and volatility of the traded carbon securities.

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Extra info for Carbon Finance: How Carbon and Stock Markets are affected by Energy Prices and Emissions Regulations

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Pdf. edu/group/ipsblog/cgi-bin/wordpress/2011/04/looking-to-durban-lessons-fromcopenhagen-and-cancun/. 3 26 3 Do Regulations Affect Carbon Market Returns and Volatility? the additions to the plans and any amendments or revisions requested by the EC. We expect leaked information prior to formal submission of a national plan to the EC as well as the formal submission of a plan to yield a substantial carbon price response. These two events reveal for the first time the level of reductions proposed by a particular country and as such aid in formulating expectations as to the overall level of allowances which might exist in the system.

Summer here is defined to include the months of June, July and August. Extremely hot and cold events are examined separately in order to capture an asymmetric response, if any, in the prices of carbon. The “Cold” and “Hot” variables are binary dummy variables which take on values of 1 for days with extreme weather and 0 otherwise. 77 extreme weather events are identified over the sample period—54 extremely hot days and 23 extremely cold days. 1 Empirical Results Impact of Regulations on Carbon Price: Univariate Analysis Prior to any econometric analysis, we conduct a preliminary test to confirm that the selected event categories are in fact informative to the carbon market.

We hypothesize that the reaction of the market to institutional disclosures is conditional upon the state of the overall economy. Specifically, during times of economic growth and expanding industrial production, the market will be sensitive to announcements about its institutional and organizational framework. This is because covered entities and market participants alike are uncertain as to whether the market is net long or short on allowances. Since this information is revealed only at the annual verification events, announcements during the year will yield a price reaction as market participants update their expectations about the supply-demand balance of allowances.

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Carbon Finance: How Carbon and Stock Markets are affected by Energy Prices and Emissions Regulations by Yulia Veld-Merkoulova, Svetlana Viteva


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