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https://hdl.handle.net/1822/39634
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Campo DC | Valor | Idioma |
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dc.contributor.author | Sousa, Rita | por |
dc.contributor.author | Aguiar-Conraria, Luís | por |
dc.date.accessioned | 2016-01-22T15:13:52Z | - |
dc.date.issued | 2015-10-29 | - |
dc.identifier.issn | 1758-3004 | por |
dc.identifier.issn | 1758-3012 | por |
dc.identifier.uri | https://hdl.handle.net/1822/39634 | - |
dc.description.abstract | We provide a comparative analysis of how short-run variations in carbon and energy prices relate to each other in the emerging greenhouse gas market in California (Western Climate Initiative [WCI], and the European Union Emission Trading Scheme [EU ETS]). We characterize the relationship between carbon, gas, coal, electricity and gasoline prices and an indicator for economic activity, and present a first analysis of carbon prices in the WCI. We also provide a comparative analysis of the structures of the two markets. We estimate a vector autoregressive model and the impulse--response functions. Our main findings show a positive impact from a carbon shock toward electricity, in both markets, but larger in the WCI electricity price, indicating more efficiency. We propose that the widening of carbon market sectors, namely fuels transport and electricity imports, may contribute to this result. To conclude, the research shows significant and coherent relations between variables in WCI, which demonstrate some degree of success for a first year in operation. Reversely, the EU ETS should complete its intended market reform, to allow for more impact of the carbon price. Finally, in both markets, there is no evidence of carbon pricing depleting economic activity. | por |
dc.description.sponsorship | This work was carried out within the funding with the UID/ECO/03182/2013 reference with the FCT/MEC's financial support through national funding and when applicable co-funded by the FEDER under the PT2020 Partnership Agreement. | por |
dc.language.iso | eng | por |
dc.publisher | Taylor and Francis | por |
dc.relation | FCT - Fundação para a Ciência e Tecnologia (COMPETE 2020; Portugal 2020; FEDER) | por |
dc.relation | info:eu-repo/grantAgreement/FCT/5876/147291/PT | por |
dc.relation | info:eu-repo/grantAgreement/FCT/5876/147291/PT | - |
dc.rights | restrictedAccess | por |
dc.subject | Carbon price | por |
dc.subject | EU ETS | por |
dc.subject | WCI | por |
dc.subject | VAR model | por |
dc.title | Energy and carbon prices: a comparison of interactions in the European Union Emissions Trading Scheme and the Western Climate Initiative market | por |
dc.type | article | por |
dc.peerreviewed | yes | por |
dc.relation.publisherversion | http://www.tandfonline.com/doi/full/10.1080/17583004.2015.1097007 | por |
sdum.publicationstatus | published | por |
oaire.citationStartPage | 129 | por |
oaire.citationEndPage | 140 | por |
oaire.citationIssue | 3/4 | por |
oaire.citationTitle | Carbon Management | por |
oaire.citationVolume | 6 | por |
dc.identifier.doi | 10.1080/17583004.2015.1097007 | por |
dc.subject.fos | Ciências Sociais::Economia e Gestão | por |
dc.subject.wos | Science & Technology | por |
sdum.journal | Carbon Management | por |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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TCMT_A_1097007_O _final_Repositorio.pdf Acesso restrito! | 688,75 kB | Adobe PDF | Ver/Abrir |