Grüll, Georg; Kiesel, Rüdiger:
Quantifying the CO2 Permit Price Sensitivity
2012
In: Zeitschrift für Energiewirtschaft, Heft Online First
Artikel/Aufsatz in Zeitschrift2012Wirtschaftswissenschaften
Fakultät für Wirtschaftswissenschaften
Titel:
Quantifying the CO2 Permit Price Sensitivity
Autor(in):
Grüll, Georg; Kiesel, RüdigerLSF
Erscheinungsjahr
2012
DOI:

Abstract:

Equilibrium models have been widely used in literature with the aim of showing theoretical properties of emission trading systems. This paper derives first a new equilibrium model. Second, it is shown that the theoretical permit price is related to changes in the expectation about how long regulated companies will need to exhaust the remaining permits. Third, by application to real data it demonstrates that emission trading systems are inherently prone to jumps.