Hammoudeh, Shawkat; Nguyen, Duc Khuong; Sousa, Ricardo M. - In: Energy Economics 46 (2014) C, pp. 122-135
crude oil prices has an initial positive effect on the CO2 allowance prices, which later becomes negative; (ii) an … coal prices on the CO2 allowance prices when the electricity prices are excluded from the BSVAR system; and (v) a positive … shocks have a persistent impact on the CO2 allowance prices, with the largest effect occurring 6 months after a shock strikes …