Charles, Amélie; Darné, Olivier; Fouilloux, Jessica - In: Energy Policy 60 (2013) C, pp. 785-792
In this paper, we study the relationship between futures and spot prices in the European carbon markets from the cost-of-carry hypothesis. The aim is to investigate the extent of efficiency market. The three main European markets (BlueNext, EEX and ECX) are analyzed during Phase II, covering the...