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Drupp, Moritz A.; Nesje, Frikk; Schmidt, Robert C. - 2022

We study the variation of global and unilateral carbon price recommendations and their determinants. To this end, we provide survey evidence on carbon pricing from more than 400 experts across almost 40 countries. We quantify the extent of (dis-)agreement and reveal that a majority of experts...

Persistent link: https://www.econbiz.de/10012888461

Green stocks and monetary policy shocks : evidence from Europe

Bauer, Michael D.; Offner, Eric A.; Rudebusch, Glenn D. - 2024

Policymakers and researchers worry that the low-carbon transition may be inadvertently delayed by higher global interest rates. To examine whether green investment is especially sensitive to interest rate increases, we consider the effect of unanticipated monetary policy changes on the equity...

Persistent link: https://www.econbiz.de/10015158100

The Covid-19 pandemic and European trade flows : evidence from a dynamic panel model

Caporale, Guglielmo Maria; Sova, Anamaria Diana; Sova, … - 2022

This paper investigates the impact of the Covid-19 pandemic on trade flows in the case of the European countries. First, an ARDL dynamic panel model is estimated using the PMG method to analyse monthly data covering the most recent period (2019M1-2021M12); then, the GMM and PCSE approaches are...

Persistent link: https://www.econbiz.de/10013285828

The dependence structure between carbon emission allowances and financial markets : a copula analysis

Gronwald, Marc; Ketterer, Janina; Trück, Stefan - 2011

This paper applies different copulas in order to investigate the complex dependence structure between EU emission allowance (EUA) futures returns and those of other commodities, equity and energy indices. The analysis yields important insights into the relationship between carbon, commodities...

Persistent link: https://www.econbiz.de/10009011778

Carbon content of electricity futures in phase II of the EU ETS

Fell, Harrison; Hintermann, Beat; Vollebergh, Herman R. J. - 2013

Pool market and Spain, using one-year futures for base and peak load prices for the years 2009-2012, corresponding to … physical settlement during the second market phase of the EU ETS. We employ a series of estimation methods that allow for an … degree of cross-commodity and cross-market interaction allowed. We further find that coal prices are negatively and gas …

Persistent link: https://www.econbiz.de/10009786078

Carbon Leakage and capacity-based allocations : is the EU right?

Meunier, Guy; Ponssard, Jean-Pierre; Quirion, Philippe - 2012

Two main approaches have been implemented in regional CO2 markets to address competitiveness and carbon leakage: output based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best policy, given that auctioning with border adjustment...

Persistent link: https://www.econbiz.de/10009687241

Can and should the EU's Eastern Partnership be saved?

Thorvaldur Gylfason; Martínez-Zarzoso, Inmaculada; … - 2014

In a major setback for the EU, only two of four Eastern Partnership countries actually initialed Association Agreements at the Vilnius Summit in November 2013. This paper asks what went wrong and what can be done about it. Using a gravity model to estimate the effects of deep and shallow free...

Persistent link: https://www.econbiz.de/10010374518

Pass-through of CO2 emission costs to hourly electricity prices in Germany

Hintermann, Beat - 2014

market data. I control for contemporaneous shocks to demand and supply by constructing a detailed supply curve for fossil …

Persistent link: https://www.econbiz.de/10010412091

Carbon emissions scenarios in Europe based on an endogenous growth model

Ciesielski, Anna; Tol, Richard S. J. - 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/10010412388

EU-accession effects on sectoral trade : a Helpman-Melitz-Rubinstein approach with panel data

Martínez-Zarzoso, Inmaculada; Vidovic, Martina; Voicu, … - 2014

This paper estimates the effects of the EU enlargements in the 2000s for trade in parts and components and trade in final goods separately. A gravity model is applied to disaggregated trade data over the period 1999 - 2009 for trade between EU and OECD countries. The estimation approach accounts...

Persistent link: https://www.econbiz.de/10010383871