%0 Journal Article 
%T Causalidad y sensibilidad entre precios de los derechos de emisión europeos y los certificados de reducción de emisiones de mecanismos de desarrollo limpio en el mercado europeo de transacción de emisiones
%D 2012
%@ 01235923
%U http://www.icesi.edu.co/revistas/index.php/estudios_gerenciales/article/view/1515
%X This article examines the price relationships between European Union Allowances (EUAs), valid
under the EU Emissions Trading Scheme (EU ETS), and Certified Emissions Reductions (CERs)
generated through the Clean Development Mechanism (CDM) under the Kyoto Protocol. Given
the price differences between EUAs and CERs, financial and industrial operators could profit
from arbitrage strategies by buying CERs and selling EUAs or vice versa. A statistical analysis
of the carbon credit market through a VAR model revealed the impact of shocks on the carbon
market on the prices of EUAs and CERs.
%K Producción intelectual registrada - Universidad Icesi
%K Carbono
%K Carbono - Aspectos ambientales
%K Modelos autorregresivos
%K Carbón market
%K VAR Model
%K Carbón credtis
%~ GOEDOC, SUB GOETTINGEN