CO2 emission allowances and their interacion with economic and energy factors in the European Union
Analysis of emission allowances prices has important environmental and political connotations. This article aimed to identifying the possible variables that may influence their behaviour and studied their relationship with fundamental factors: energy (Brent petroleum, Gas, Coal) and economy (Indust...
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Facultad de Ciencias Agrarias-UNCuyo
2021
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| Acceso en línea: | https://revistas.uncu.edu.ar/ojs3/index.php/RFCA/article/view/2817 |
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I11-R107article-28172021-07-07T00:51:01Z CO2 emission allowances and their interacion with economic and energy factors in the European Union CO2 emission allowances and their interacion with economic and energy factors in the European Union Botey Fullat , María Arias Martín, Pedro Alarcón, Silverio modelo VAR/VECM cointegración derechos de emisión medioambiente factores fundamentales VAR & VECM model cointegration allowances emission environment fundamental factors Analysis of emission allowances prices has important environmental and political connotations. This article aimed to identifying the possible variables that may influence their behaviour and studied their relationship with fundamental factors: energy (Brent petroleum, Gas, Coal) and economy (Industrial Production Index, Baltic Dry Index, Purchasing Managers Index). With the objective of analyzing possible mutual interactions, Multivariate VAR or Error Correction Models (VECM), were applied. The information analysed derived from different sources (World Bank, Sendeco2 and various financial websites). The results obtained showed, not only the influence of past prices on the emission allowances actual price, but also the interaction with energetic and economic variables. Highlights Estimation of time series interrelations through VAR models. There is relationship of the emission allowances price with their past values. The energy variables are factors important to also explain the behavior of the emission allowances price. The economic variables are hardly significant except for the Dry Baltic Index. Analysis of emission allowances prices has important environmental and political connotations. This article aimed to identifying the possible variables that may influence their behaviour and studied their relationship with fundamental factors: energy (Brent petroleum, Gas, Coal) and economy (Industrial Production Index, Baltic Dry Index, Purchasing Managers Index). With the objective of analyzing possible mutual interactions, Multivariate VAR or Error Correction Models (VECM), were applied. The information analysed derived from different sources (World Bank, Sendeco2 and various financial websites). The results obtained showed, not only the influence of past prices on the emission allowances actual price, but also the interaction with energetic and economic variables. Highlights Estimation of time series interrelations through VAR models. There is relationship of the emission allowances price with their past values. The energy variables are factors important to also explain the behavior of the emission allowances price. The economic variables are hardly significant except for the Dry Baltic Index. Facultad de Ciencias Agrarias-UNCuyo 2021-07-07 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.uncu.edu.ar/ojs3/index.php/RFCA/article/view/2817 10.48162/rev.39.018 Revista de la Facultad de Ciencias Agrarias UNCuyo; Vol. 53 No. 1 (2021): January-June; 182-195 Revista de la Facultad de Ciencias Agrarias UNCuyo; Vol. 53 Núm. 1 (2021): Enero-Junio; 182-195 1853-8665 0370-4661 eng https://revistas.uncu.edu.ar/ojs3/index.php/RFCA/article/view/2817/3322 Derechos de autor 2021 Revista de la Facultad de Ciencias Agrarias UNCuyo https://creativecommons.org/licenses/by-nc-sa/3.0/deed.es |
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Revista de la Facultad de Ciencias Agrarias |
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Revista de la Facultad de Ciencias Agrarias |
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eng |
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Online |
| author |
Botey Fullat , María Arias Martín, Pedro Alarcón, Silverio |
| spellingShingle |
Botey Fullat , María Arias Martín, Pedro Alarcón, Silverio CO2 emission allowances and their interacion with economic and energy factors in the European Union modelo VAR/VECM cointegración derechos de emisión medioambiente factores fundamentales VAR & VECM model cointegration allowances emission environment fundamental factors |
| author_facet |
Botey Fullat , María Arias Martín, Pedro Alarcón, Silverio |
| author_sort |
Botey Fullat , María |
| title |
CO2 emission allowances and their interacion with economic and energy factors in the European Union |
| title_short |
CO2 emission allowances and their interacion with economic and energy factors in the European Union |
| title_full |
CO2 emission allowances and their interacion with economic and energy factors in the European Union |
| title_fullStr |
CO2 emission allowances and their interacion with economic and energy factors in the European Union |
| title_full_unstemmed |
CO2 emission allowances and their interacion with economic and energy factors in the European Union |
| title_sort |
co2 emission allowances and their interacion with economic and energy factors in the european union |
| description |
Analysis of emission allowances prices has important environmental and political connotations. This article aimed to identifying the possible variables that may influence their behaviour and studied their relationship with fundamental factors: energy (Brent petroleum, Gas, Coal) and economy (Industrial Production Index, Baltic Dry Index, Purchasing Managers Index). With the objective of analyzing possible mutual interactions, Multivariate VAR or Error Correction Models (VECM), were applied. The information analysed derived from different sources (World Bank, Sendeco2 and various financial websites). The results obtained showed, not only the influence of past prices on the emission allowances actual price, but also the interaction with energetic and economic variables.
Highlights
Estimation of time series interrelations through VAR models.
There is relationship of the emission allowances price with their past values.
The energy variables are factors important to also explain the behavior of the emission allowances price.
The economic variables are hardly significant except for the Dry Baltic Index.
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| publisher |
Facultad de Ciencias Agrarias-UNCuyo |
| publishDate |
2021 |
| url |
https://revistas.uncu.edu.ar/ojs3/index.php/RFCA/article/view/2817 |
| topic |
modelo VAR/VECM cointegración derechos de emisión medioambiente factores fundamentales VAR & VECM model cointegration allowances emission environment fundamental factors |
| topic_facet |
modelo VAR/VECM cointegración derechos de emisión medioambiente factores fundamentales VAR & VECM model cointegration allowances emission environment fundamental factors |
| work_keys_str_mv |
AT boteyfullatmaria co2emissionallowancesandtheirinteracionwitheconomicandenergyfactorsintheeuropeanunion AT ariasmartinpedro co2emissionallowancesandtheirinteracionwitheconomicandenergyfactorsintheeuropeanunion AT alarconsilverio co2emissionallowancesandtheirinteracionwitheconomicandenergyfactorsintheeuropeanunion |
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