Journal article
Efficiency of European emissions markets: Lessons and implications
Energy Policy, Vol.39(10), pp.6575-6582
2011
Abstract
While prior studies have shown that emission rights and futures contracts on emission rights are efficiently priced, there are no studies on the efficiency of the options market Therefore, this study fills the gap. We examine empirical evidence regarding the efficiency of the options market for emissions rights in Europe. We employ the put-call parity approach to test the efficiency of options on emission rights traded in the European market. This implies that firms can trade options on emission rights in addition to other existing strategies in order to manage their greenhouse gas emissions.
Details
- Title
- Efficiency of European emissions markets: Lessons and implications
- Authors/Creators
- C. Krishnamurti (Author/Creator) - University of Southern QueenslandA. Hoque (Author/Creator) - University of South Australia
- Publication Details
- Energy Policy, Vol.39(10), pp.6575-6582
- Publisher
- Elsevier
- Identifiers
- 991005542735707891
- Copyright
- Elsevier
- Murdoch Affiliation
- Murdoch University
- Language
- English
- Resource Type
- Journal article
- Publisher URL
- http://www.journals.elsevier.com/energy-policy/
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- Collaboration types
- Domestic collaboration
- Citation topics
- 6 Social Sciences
- 6.10 Economics
- 6.10.80 Market Interdependencies
- Web Of Science research areas
- Economics
- Energy & Fuels
- Environmental Sciences
- Environmental Studies
- ESI research areas
- Social Sciences, general