the equality of prices. However, EUA prices exceed CER prices. Prior studies on the price spread between the EUA and the … price spread is missing. In this paper, I address this gap and analyse the process that describes the dynamic evolution of … the price spread by employing a time-varying parameter analysis, in addition to standard techniques. This paper explicitly …

among prices from major wheat producing regions: Canada, the European Union, Argentina, Australia, and the United States. An … ambiguity related to the cyclic or acyclic flow of information between Canada and Australia is uncovered. We condition our …