Sabbaghi, Omid; Sabbaghi, Navid - In: The Quarterly Review of Economics and Finance 51 (2011) 4, pp. 399-407
We provide the first econometric investigation of volatility dynamics for the Carbon Financial Instrument (CFI) traded on the Chicago Climate Exchange (CCX). A CFI is a financial contract with the right to emit 100 metric tons of CO2 equivalent. In this study, we present evidence of infrequent...
