Carbon Credits: Who is the Leader of the Pack?

Vicente Medina, Angel Pardo and Roberto Pascual
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Vicente Medina: University of Valencia, Spain
Angel Pardo: Corresponding author, University of Valencia, Departamento de Econom a Financiera y Actuarial, Facultad de Econom a, Valencia, Spain

International Journal of Energy Economics and Policy, 2013, vol. 3, issue 3, 210-220

Abstract: We provide the first intraday analysis on the contribution to price discovery of two emissions carbon credits: European Union Allowances (EUAs) and Certified Emission Reductions (CERs). We find that EUAs lead price discovery but CERs play a growing role and, therefore, should not be ignored.

Keywords: European Union Allowances; Certified Emission Reductions; co-integration, pricediscovery; high frequency data; intraday analysis (search for similar items in EconPapers)
JEL-codes: G10 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2013-03-2

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