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000890114 019__ $$a1027134681$$a1027306415$$a1027535431
000890114 020__ $$a9783319728476$$q(electronic book)
000890114 020__ $$a3319728474$$q(electronic book)
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000890114 020__ $$z9783319728469
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000890114 08204 $$a363.738746094
000890114 1001_ $$aIbikunle, Gbenga.
000890114 24510 $$aCarbon Markets :$$bMicrostructure, Pricing and Policy.
000890114 260__ $$aCham :$$bPalgrave Macmillan US,$$c2018.
000890114 300__ $$a1 online resource (243 pages)
000890114 336__ $$atext$$btxt$$2rdacontent
000890114 337__ $$acomputer$$bc$$2rdamedia
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000890114 5050_ $$aIntro; Acknowledgements; Contents; List of Abbreviations; List of Figures; List of Tables; 1: An Introduction to the Book; References; 2: Emissions Trading in Europe: Background and Policy; 2.1 Introduction; 2.2 Trading Emissions Under Cap and Trade; 2.3 Structure of the EU-ETS; 2.3.1 Emissions Permits Creation and Use; 2.4 Critical Phase-Dependent Issues Arising from EU-ETS Design and Regulations; 2.4.1 The Problem with Ban on Intertemporal Trading; 2.4.2 The Problem with Initial Allocation in Phase I; 2.4.3 Carbon Price in the EU-ETS.
000890114 5058_ $$a2.4.4 Impact of the Global Financial Crisis on the EU-ETS2.4.5 Regulatory Risk Issues in the EU-ETS; 2.5 Chapter Summary; References; 3: Price Discovery and Trading After Hours on the ECX; 3.1 Introduction; 3.2 The Trading Environment on the ECX; 3.3 Data; 3.3.1 Sample Selection; 3.3.2 Sample Description; 3.4 Results and Discussion; 3.4.1 Trading Volume and Volatility; 3.4.2 Motivation for Trading During the AMC: Liquidity or Information?; 3.4.3 Adverse Selection Costs and Spread Analyses; 3.4.3.1 Madhavan et al.'s (1997) Spread Decomposition Model.
000890114 5058_ $$a3.4.3.2 Estimating Madhavan et al.'s (1997) Spread Decomposition Model3.4.3.3 Huang and Stoll's (1997) Three-Way Spread Decomposition Model Based on Portfolio Trading Pressure; 3.4.3.4 A Simple Model; 3.4.3.5 Extension of Model Based on Portfolio Trading Pressure; 3.4.4 Price Discovery and Information Absorption on the ECX; 3.4.4.1 Weighted Price Contribution; 3.4.4.2 Weighted Price Contribution per Trade; 3.4.5 Efficiency of the Price Discovery Process: Period by Period Analysis; 3.5 Chapter Summary; References; 4: The Price Impact of Block Emissions Permit Trades; 4.1 Introduction.
000890114 5058_ $$a4.2 Background to Study4.2.1 Institutional Set-up; 4.3 Data and Methodological Approach; 4.3.1 Data; 4.3.2 Methodology; 4.4 Results and Discussion; 4.4.1 Descriptive Statistics; 4.4.2 Regression Results and Discussion; 4.4.2.1 Price Impact and Trade Sign; 4.4.2.2 Intraday Variations in Price Impact; 4.4.2.3 Day of the Week Effects; 4.4.2.4 Trade Size Dependencies on Price Impact; 4.5 Chapter Summary; References; 5: The Liquidity Effects of Trading Carbon Financial Instruments; 5.1 Introduction; 5.2 The Trading Environment on the EEX; 5.3 Data; 5.3.1 Sample Selection.
000890114 5058_ $$a5.3.2 Sample Description5.4 Results and Discussion; 5.4.1 Abnormal Return of Events: Dec-2008 and Dec-2009 Contracts; 5.4.2 Impact of Events on Trading Volumes: Dec-2008 and Dec-2009 Contracts; 5.4.2.1 Short-Term Impact of Events; 5.4.2.2 Long-Term Impact of Events; 5.4.3 Financial Markets Liquidity; 5.4.4 Measures of Liquidity; 5.4.4.1 Volume-Based Measures; 5.4.4.2 Price Movement and Market Resilience Measures; 5.4.4.3 Transaction Cost Measures; 5.4.5 Liquidity Improvements: EEX EUA Dec-2008 and Dec-2009 Contracts; 5.5 Chapter Summary; References; 6: Liquidity and Market Efficiency in Carbon Markets.
000890114 506__ $$aAccess limited to authorized users.
000890114 520__ $$aThis book explores the microstructure of carbon markets and the pricing of carbon financial instruments generally. It provides a critical microstructure analysis of the EU Emissions Trading Scheme (EU-ETS), and also examines the theoretical and related market design issues affecting emissions trading schemes. Individual chapters analyse how intraday pricing evolves in carbon markets, the price impact of block trades in carbon financial instruments and their determinants, short and long-term liquidity effects in carbon markets, and the links between carbon market liquidity and efficiency. The aforementioned issues are explored using case studies of two major trading platforms operating within the EU-ETS. The book concludes by focusing on future policy and regulatory challenges in carbon markets, especially with respect to addressing pricing volatility challenges.--$$cProvided by publisher.
000890114 588__ $$aDescription based on print version record.
000890114 650_0 $$aEmissions trading.
000890114 7001_ $$aGregoriou, Andros.
000890114 77608 $$iPrint version:$$aIbikunle, Gbenga.$$tCarbon Markets : Microstructure, Pricing and Policy.$$dCham : Palgrave Macmillan US, ©2018$$z9783319728469
000890114 852__ $$bebk
000890114 85640 $$3SpringerLink$$uhttps://univsouthin.idm.oclc.org/login?url=http://link.springer.com/10.1007/978-3-319-72847-6$$zOnline Access$$91397441.1
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000890114 980__ $$aEBOOK
000890114 980__ $$aBIB
000890114 982__ $$aEbook
000890114 983__ $$aOnline
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