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2016 | OriginalPaper | Chapter

Dynamic Nonlinear Relationships between Carbon Emission Allowance and Reduction Credit Markets-Based on the IRF-DCC Model

Authors : Jingjing Jiang, Bin Ye, Dejun Xie, Lixin Miao

Published in: Geo-Informatics in Resource Management and Sustainable Ecosystem

Publisher: Springer Berlin Heidelberg

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Abstract

Emission trading and market mechanism have increasingly become crucial policy measures to promote sustainable development. Coupled with carbon emission reduction credit trading, carbon emission allowance trading under the cap-and-trade scheme is also steadily developing in China. To learn from the EU ETS’s experience, the paper applied the IRF-DCC model to explore the dynamic nonlinear relations between EUA and CER markets. Empirical results indicate that EUA and CER are dynamically and conditionally correlated both in the spot and future markets. Correlations of spot volatilities are highly instable and market dependent while correlations of future volatilities are relatively stable and independent.

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previous chapter The Influencing Factors of Biochar’s Characteristics and the Development of Carbonization Equipments: A Review
next chapter Three Dimensional Scene Modeling Based on SketchUp, Tiling and ArcGIS
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Metadata
Title
Dynamic Nonlinear Relationships between Carbon Emission Allowance and Reduction Credit Markets-Based on the IRF-DCC Model
Authors
Jingjing Jiang
Bin Ye
Dejun Xie
Lixin Miao
Copyright Year
2016
Publisher
Springer Berlin Heidelberg
Book
Geo-Informatics in Resource Management and Sustainable Ecosystem

Print ISBN: 978-3-662-49154-6

Electronic ISBN: 978-3-662-49155-3

Copyright Year: 2016

DOI
https://doi.org/10.1007/978-3-662-49155-3_79