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dc.contributor.authorRotfuß, Waldemaren
dc.contributor.authorConrad, Christianen
dc.contributor.authorRittler, Danielen
dc.date.accessioned2009-09-14-
dc.date.accessioned2009-09-22T11:41:07Z-
dc.date.available2009-09-22T11:41:07Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/28010-
dc.description.abstractThis paper empirically examines price formation in the European Union Emissions Trading Scheme (EU ETS). Our analysis shows that unexpected allocations of European Union Allowances (EUAs) lead to pronounced price reactions of the expected signs. Moreover, we find evidence that the adjustment of EUA prices to the European Commission's decisions on second National Allocation Plans (NAPs) is not instantaneous, but takes up to six hours after the decision announcement.en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x09-045en
dc.subject.jelG13en
dc.subject.jelG14en
dc.subject.jelG15en
dc.subject.jelG17en
dc.subject.jelG19en
dc.subject.jelQ4en
dc.subject.jelQ5en
dc.subject.ddc330en
dc.subject.keywordEU ETSen
dc.subject.keywordprice formationen
dc.subject.keywordEuropean Union Allowance (EUA)en
dc.subject.keywordEuropean Commissionen
dc.subject.stwEmissionsrechteen
dc.subject.stwPreisen
dc.subject.stwAllokationen
dc.subject.stwEU-Umweltpolitiken
dc.subject.stwAnkündigungseffekten
dc.subject.stwEU-Staatenen
dc.titleThe European Commission and EUA prices: a high-frequency analysis of the EC's decisions on second NAPs-
dc.type|aWorking Paperen
dc.identifier.ppn608694541en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:09045en

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