期刊名称：International Journal of Energy Economics and Policy
电子版ISSN：2146-4553
出版年度：2013
卷号：3
期号：3
页码：210-220
语种：English
出版社：EconJournals
摘要：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, price-discovery; high frequency data; intraday analysis. JEL Classifications: G10
