Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2017.01.008 |
What policy adjustments in the EU ETS truly affected the carbon prices? | |
Fan, Ying1; Jia, Jun-Jun2,3; Wang, Xin4; Xu, Jin-Hua2,3 | |
2017-04-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2017 |
卷号 | 103 |
文章类型 | Article |
语种 | 英语 |
国家 | Peoples R China; France |
英文摘要 | Carbon market becomes increasingly popular as a cost-effective instrument to mitigate CO2 emissions. However, its construction is a learning-by-doing process, and needs consistent regulatory updates in order to deliver optimal effects. This paper uses the event study method to assess the impacts of different policy adjustments on the EUA returns in the European Union Emissions Trading Scheme (EU ETS) since 2005. Comparing to existing studies that focus on the impact of a single policy, this paper provides a complementary reference on if and to what extent policy adjustments can impact the carbon prices by classifying all regulatory update events into six categories. Its key findings are as follows. First, aggregate impacts of total 50 events studied are low while impacts of events having underlying negative impacts are higher than those having underlying positive impacts. Second, 24 events have significant impacts on EUA returns and are coherent to their theoretical impacts (except one event). Third, events having negligible impact on EUA returns are those that are announced not for the first time or those having no impact on CO2 quotas supply and demand. Finally, there are different impact patterns: some events have different impacts on short-end and long-end carbon prices. |
英文关键词 | Regulatory policy announcements Event study Carbon price EU ETS Policy evaluation |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000397356000012 |
WOS关键词 | FUTURES PRICES ; ANNOUNCEMENTS ; ALLOWANCES ; BEHAVIOR ; RETURNS ; IMPACTS ; EVENT ; OPEC ; SPOT |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/18874 |
专题 | 气候变化 |
作者单位 | 1.Beihang Univ, Sch Econ & Management, Beijing 100191, Peoples R China; 2.Univ Sci & Technol China, Sch Management, Anhua 230026, Peoples R China; 3.Chinese Acad Sci, Inst Policy & Management, Ctr Energy & Environm Policy Res, Beijing 100190, Peoples R China; 4.IDDRI, Sci Po 27 rue St Guillaume, F-75337 Paris 07, France |
推荐引用方式 GB/T 7714 | Fan, Ying,Jia, Jun-Jun,Wang, Xin,et al. What policy adjustments in the EU ETS truly affected the carbon prices?[J]. ENERGY POLICY,2017,103. |
APA | Fan, Ying,Jia, Jun-Jun,Wang, Xin,&Xu, Jin-Hua.(2017).What policy adjustments in the EU ETS truly affected the carbon prices?.ENERGY POLICY,103. |
MLA | Fan, Ying,et al."What policy adjustments in the EU ETS truly affected the carbon prices?".ENERGY POLICY 103(2017). |
条目包含的文件 | 条目无相关文件。 |
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