Lu, Wei; Yin, Hao - In: International Journal of Green Economics 6 (2012) 1, pp. 1-16
-run response to EUA futures price shocks. It also has a positive short-run response to the price of fossil fuel futures. Price … shocks in EUA futures have a significant impact on fossil fuel prices, but fossil fuel prices have a small impact on EUA … futures. The effect of price shocks in EUA and coal futures on the price of peak load electricity futures is smaller than that …