Chevallier, Julien - Université Paris-Dauphine (Paris IX) - 2011
article critically analyzes the price relationships in the EU emissions trading system. The United Nations Framework … emission reductions. EUAs (EU Allowances) are the tradable unit under the EU ETS. Besides, the EU Linking Directive allows the … import for compliance into the EU ETS up to 13.4% of CERs on average. This article details the idiosyncratic risks affecting …