An Empirical Analysis of Carbon Emission Price in China

被引：16

作者：

Zhou, Kaile ^{[1
,2
]}

Li, Yiwen ^{[1
,2
]}

机构：

[1] Hefei Univ Technol, Sch Management, Hefei 230009, Anhui, Peoples R China

[2] Minist Educ, Key Lab Proc Optimizat & Intelligent Decis Making, Hefei 230009, Anhui, Peoples R China

来源：

CLEANER ENERGY FOR CLEANER CITIES | 2018年 / 152卷

基金：

中国国家自然科学基金; 中国博士后科学基金;

关键词：

Carbon market; Carbon emission trading; GARCH model; Price fluctuation; COINTEGRATION;

D O I：

10.1016/j.egypro.2018.09.196

中图分类号：

TE [石油、天然气工业]; TK [能源与动力工程];

学科分类号：

0807 ; 0820 ;

摘要：

Carbon emission trading, as an effective economic tool to deal with climate change issues, has received widespread attention in recent years. As a major carbon emitter, China plays an important role in global climate change. This paper uses the Vector Error Correction (VEC) model to explore the dynamic relationship between energy price, macroeconomic indicators, air quality, and carbon emission trading price. The results show that there is a long-term equilibrium relationship between these selected indicators and carbon emission trading price. In addition, this paper also uses the Generalized Auto-Regressive Conditional Heteroskedasticity (GARCH) model to analyze the carbon price fluctuation characteristics. It is found that there is a positive leverage effect on the price fluctuation of the selected carbon emission return series. External bad news will have a greater impact on carbon price fluctuation than good news. Copyright (C) 2018 Elsevier Ltd. All rights reserved.

引用

页码：823 / 828

页数：6

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