Similar Search Results

How to Measure Financial Market Efficiency? A Multifractality-Based Quantitative Approach with an Application to the European Carbon Market

Sattarhoff, Cristina - 2018

This paper proposes a new measure for the evaluation of financial market efficiency, the so-called intermittency coefficient. This is a multifractality measure that can quantify the deviation from a random walk within the framework of the multifractal random walk model by Bacry et al. (2001b)....

Persistent link: https://www.econbiz.de/10012913274

Pro-Rich Inflation in Europe : Implications for the Measurement of Inequality

Gürer, Eren - 2018

This paper studies the distributional consequences of a systematic variation in expenditure shares and prices. Using European Union Household Budget Surveys and Harmonized Index of Consumer Prices data, we construct household-specific price indices and reveal the existence of a pro-rich...

Persistent link: https://www.econbiz.de/10012914674

Carbon Pricing in the EU : Evaluation of Different EU ETS Reform Options

Brink, Corjan - 2015

This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as … adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to EU ETS. We use a dynamic … at the EU Member State level. We find that both a variable carbon tax and an auction reserve price support effective …

Persistent link: https://www.econbiz.de/10013009840

Carbon Emissions Scenarios in Europe Based on an Endogenous Growth Model

Ciesielski, Anna - 2014

Carbon dioxide emissions are a major force driving climate change. We construct scenarios of CO2 emissions from fossil energy until 2100 in Europe. Major innovations are first that economic growth is based on an endogenous economic growth model and second that we calibrate our model to...

Persistent link: https://www.econbiz.de/10013046062

Pass-through of CO<sub>2</sub> Emission Costs to Hourly Electricity Prices in Germany

Hintermann, Beat - 2014

I estimate the level of emissions cost pass-through to hourly wholesale electricity prices in Germany, based on spot market data. I control for contemporaneous shocks to demand and supply by constructing a detailed supply curve for fossil generation, and intersecting it with residual demand for...

Persistent link: https://www.econbiz.de/10013046575

Carbon Leakage : A Medium- and Long-Term View

Habermacher, Florian - 2015

Future market developments determine the fate of fossil fuel carbon currently conserved unilaterally. Dynamic fuel depletion naturally suggests leakage rates approaching 100%. Reasons for lower leakage differ from what limits rates in previous studies. Discounting reduces present-value leakage...

Persistent link: https://www.econbiz.de/10013026683

More Gas, Less Cole, and Less CO2? Unilateral CO2 Reduction Policy with More than One Carbon Energy Source

Daubanes, Julien - 2017

We examine an open economy's strategy to reduce its carbon emissions by replacing its consumption of coal - very carbon intensive - with gas - less so. Unlike the standard analysis of carbon leakage, unilateral carbon-reduction policies with more than one carbon energy source may turn...

Persistent link: https://www.econbiz.de/10012943061

Fiscal and Regulatory Instruments for Clean Technology Development in the European Union

Dechezlepretre, Antoine - 2015

This policy note investigates whether the current level of public support to environment-friendly technologies is sufficient to allow European countries to respond to the multiple challenges posed by climate change and other environmental concerns. We first lay out the justifications for...

Persistent link: https://www.econbiz.de/10013021714

Austerity, Growth and Inflation - Remarks on the Eurozone's Unresolved Competitiveness Problem

Sinn, Hans-Werner - 2013

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper compares price inflation before the crisis with the...

Persistent link: https://www.econbiz.de/10013087283

The Tragedy of the Commons and Inflation Bias in the Euro Area

Dinger, Valeriya - 2013

Central bank credit has expanded dramatically in some of the euro area member countries since the beginning of the financial crisis. This paper makes two contributions to understand this stylized fact. First, we discuss a simple model of monetary policy that includes (i) a credit channel and...

Persistent link: https://www.econbiz.de/10013089167