Impact of banking and forward contracts on tradable permit markets

Akira Maeda

Environmental Economics and Policy Studies, 2004, vol. 6, issue 2, 102 pages

Abstract: This article assesses the effects of banking on tradable emission permit markets and, in particular, the role of uncertainty in permit markets that allow banking. In such markets, current and future spot trade markets are linked: An increase in uncertainty about future spot markets at first lowers spot prices due to the presence of unregulated agents but soon spurs an increase in spot prices. Copyright Springer Japan 2004

Keywords: Tradable permits; Emissions trading; Forward contracts; Banking; Uncertainty (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1007/BF03353932

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