A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2020; you can also visit the original URL.
The file type is application/pdf.
Carbon Finance: Equilibrium Modeling and Empirical Analysis
2013
Preserved Fulltext
This thesis studies the stochastic behavior of emission permit prices and its implications for related derivatives from a theoretical and an empirical perspective. It presents an equilibrium model for cap-and-trade systems, evaluates the empirical performance of reduced-form models for emission permit prices, and studies the effects of the yearly emissions announcement event on the European market for carbon emissions.
doi:10.5445/ir/1000041162
fatcat:icm7ic4k4zbj7psww4q3h6whrm