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https://hdl.handle.net/10419/55156
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Vinokur, Leon | en |
dc.date.accessioned | 2012-02-09T14:06:19Z | - |
dc.date.available | 2012-02-09T14:06:19Z | - |
dc.date.issued | 2009 | - |
dc.identifier.uri | http://hdl.handle.net/10419/55156 | - |
dc.description.abstract | This paper investigates the impact of banking and submission constraints, set by the EU Emission Trading Scheme, on the efficiency of the carbon permits spot market using intra-daily data. My aim is to identify whether there is a Disposition effect in the spot market. I will examine a data set that includes spot prices for the First and Second Phases of the Scheme from 24 June 2005 to 07 August 2009. I find that the Disposition effect is significantly high at the beginning of each Phase and decreases close to the first compliance event. In the light of these results I propose a lifting of the ban on banking between Phases and an increased emissions information disclosure in order to increase the efficiency of the Scheme. | en |
dc.language.iso | eng | en |
dc.publisher | |aQueen Mary University of London, Department of Economics |cLondon | en |
dc.relation.ispartofseries | |aWorking Paper |x652 | en |
dc.subject.jel | G11 | en |
dc.subject.jel | G18 | en |
dc.subject.jel | D84 | en |
dc.subject.jel | Q48 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | carbon market | en |
dc.subject.keyword | psychological biases | en |
dc.subject.keyword | institutional constraints | en |
dc.subject.stw | Emissionshandel | en |
dc.subject.stw | Kohlendioxid | en |
dc.subject.stw | Emissionsrechte | en |
dc.subject.stw | Spotmarkt | en |
dc.subject.stw | EU-Staaten | en |
dc.title | Disposition in the carbon market and institutional constraints | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 614243343 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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