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Externe referierte Aufsätze

The European Union Emissions Trading System: Ten Years and Counting

This article provides an introduction to the European Union (EU) Emissions Trading System (ETS). First we describe the legislative development of the EU ETS, its evolution from free allocation to auctioning and centralized allocation rules, its relationship to the Kyoto Protocol and other trading systems, and its relationship to other EU climate and energy policies. This is followed by an assessment ...

In: Review of Environmental Economics and Policy 10 (2016), 1, S. 89-107 | Denny Ellerman, Claudio Marcantonini, Aleksandar Zaklan
Externe referierte Aufsätze

Stationary Changes in Long-Run Energy Commodity Prices

Situated at the intersection of the literatures on speculative storage and non-renewable commodity scarcity, this paper considers whether changes in persistence have occurred in long-run U.S. prices of the energy commodities crude oil, natural gas and bituminous coal. We allow for a structural break when testing for a break in persistence to avoid a change in the stochastic properties of prices being ...

In: Energy Economics 59 (2016), S. 96-103 | Aleksandar Zaklan, Jan Abrell, Anne Neumann
Externe referierte Aufsätze

The Globalization of Steam Coal Markets and the Role of Logistics: An Empirical Analysis

In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight rates, covering the period December 2001 until August 2009 at weekly frequency. We then test whether the ...

In: Energy Economics 34 (2012), 1, S. 105-116 | Aleksandar Zaklan, Astrid Cullmann, Anne Neumann, Christian von Hirschhausen
Externe referierte Aufsätze

The External Financing of Emerging Markets: Evidence from Two Waves of Financial Globalization

What determines the yields at which international investors are willing to lend to emerging market countries, and the amounts of such lending? We analyze the motivation underlying investors' choices in allocating their holdings across countries, through regressions for both prices (bond yields) and quantities (bond market capitalization or stocks of external liabilities) estimated during two waves ...

In: Review of Finance 15 (2011), 1, S. 207-243 | André Faria, Paolo Mauro, Aleksandar Zaklan
Monographien

An Analysis of Allowance Banking in the EU ETS

The existence of some 2 billion unused EU Allowances (EUAs) at the end of Phase II of the EU's Emissions Trading System (EU ETS) has sparked considerable debate about structural shortcomings of the EU ETS. At the same time, there has been a surprising lack of interest in one possible explanation of this accumulation of EUAs: the theory of intertemporal permit trading, i.e. allowance banking. In this ...

Florenz: EUI, 2015, 23 S.
(EUI Working Papers: RSCAS ; 2015/29)
| Denny Ellerman, Vanessa Valero, Aleksandar Zaklan
Monographien

The EU ETS: Eight Years and Counting

This paper provides an introduction to the EU's Emissions Trading System. As such it provides a discussion of the historical and legal context in which the EU ETS developed and now operates, a presentation of the key performance indicators for the first eight years through the end of the second phase in 2012, and some concluding observations on the system's future. The paper is purposively descriptive ...

Florenz: EUI, 2014, 23 S.
(EUI Working Papers: RSCAS ; 2014/04)
| Denny Ellerman, Claudio Marcantonini, Aleksandar Zaklan
Monographien

Why Do Emitters Trade Carbon Permits? Firm-Level Evidence from the European Emission Trading Scheme

The creation of the EU's Emission Trading Scheme (EU ETS) has turned the right to emit CO2 into a positively priced intermediate good for the affected firms. Firms thus face the decision whether to source compliance with the EU ETS within their boundaries or to acquire it through the permit trade. However, a combination of internal abatement, free permit allocation and flexibility to shift the use ...

Florenz: EUI, 2013, 23 S.
(EUI Working Papers: RSCAS ; 2013/19)
| Aleksandar Zaklan
Weitere Aufsätze

Research Handbook on Emissions Trading: Edited by Stefan E. Weishaar (Edward Elgar Publisjing 2016) 366 pages ...

In: The Energy Journal 39 (2018), 5, S. 258-260 | Aleksandar Zaklan
48 results, from 41