کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
8107714 1522204 2013 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Dynamic hedge ratio estimations in the European Union Emissions offset credit market
ترجمه فارسی عنوان
برآوردهای نسبت پویای هزجاری در اتحادیه اروپا هزینه های اعتباری جبران خسارت
موضوعات مرتبط
مهندسی و علوم پایه مهندسی انرژی انرژی های تجدید پذیر، توسعه پایدار و محیط زیست
چکیده انگلیسی
Following the introduction of the European Union Emissions Trading Scheme in 2005, the size of the carbon market has been growing at a tremendous rate. To meet the emissions reduction targets, the regulated parties can choose to participate in the allowance-based market by purchasing the spot allowances. Commencing in 2008, the regulated parties are also allowed to purchase the offset credits to meet their allowance limit. Given the risky nature of the offset credits, this paper evaluates the hedging performance of dynamic hedge ratios for the carbon offset credit (certified emissions reduction) market in the EU-ETS. To the best of our knowledge, this paper is the first attempt to evaluate the hedging performance of dynamic and constant hedge ratios in the carbon offset credit market. Based on the variance reduction and utility improvement measurements, the findings generally support the use of static hedge ratios over the more sophisticated, dynamic hedge ratios.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Cleaner Production - Volume 42, March 2013, Pages 254-262
نویسندگان
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