2016
DOI: 10.3390/su8111195
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Impacts on CO2 Emission Allowance Prices in China: A Quantile Regression Analysis of the Shanghai Emission Trading Scheme

Abstract: A pilot regional carbon emission trading scheme (ETS) has been implemented in China for more than two years. An investigation into the impacts of different factors on carbon dioxide (CO 2 ) emission allowance prices provides guidance for price-making in 2017 when the nation-wide ETS of China will be established. This paper adopts a quantile regression approach to estimate the impacts of different factors in Shanghai emission trading scheme (SH-ETS), namely, economic growth, energy prices and temperature. The e… Show more

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Cited by 27 publications
(19 citation statements)
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References 42 publications
(69 reference statements)
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“…Since the buying behaviors for compliance (i.e., CB) are much more intensive in the announcement period of Phase I, NB is suppressed while NS is triggered, consequently introducing more volatility into the carbon price returns. In Phase II, the significance of the values of ARCH and GARCH variables proves the validity of this variance model, that is, Equation (6). According to the testing results of Equation 6, "trading with non-compliance purpose" of the complete period of Phase II (γ 1 II,A and γ 2 II,A ) seems to have no significant impacts on the volatility of carbon price returns.…”
Section: Full Impacts On Comovesmentioning
confidence: 81%
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“…Since the buying behaviors for compliance (i.e., CB) are much more intensive in the announcement period of Phase I, NB is suppressed while NS is triggered, consequently introducing more volatility into the carbon price returns. In Phase II, the significance of the values of ARCH and GARCH variables proves the validity of this variance model, that is, Equation (6). According to the testing results of Equation 6, "trading with non-compliance purpose" of the complete period of Phase II (γ 1 II,A and γ 2 II,A ) seems to have no significant impacts on the volatility of carbon price returns.…”
Section: Full Impacts On Comovesmentioning
confidence: 81%
“…For the announcement period in Phase I, the testing results of Equation (6) demonstrate that the variance is modeled validly, because both the ARCH and GARCH variables are highly significant.…”
Section: Full Impacts On Comovesmentioning
confidence: 92%
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“…Moreover, the proposed method adopts control strategies from a temporal perspective by adjusting short-term schedules according to comparison results of actual shop floor data and planned KPIs to make the schedule implementation coincide with the production plan. This will be more important than ever as the emission trading scheme prevails at the company level [23][24][25][26][27].…”
Section: Related Workmentioning
confidence: 99%
“…Some scholars have explored the effects of the EU ETS [23][24][25]. On the other hand, the literature provides an overview of China's ETS [1,3,26], particularly allowance allocation [27,28], MRV [29], carbon price [30], and carbon credit [31] in the context of China's pilot ETS. Studies have also been conducted on the effects of China's ETS on emission reduction [32].…”
Section: Introductionmentioning
confidence: 99%