Improving liquidity in emission trading schemes

Cited 0 time in webofscience Cited 0 time in scopus
  • Hit : 123
  • Download : 0
DC FieldValueLanguage
dc.contributor.authorKim, Jihunko
dc.contributor.authorPark, Kwangwooko
dc.date.accessioned2021-08-18T07:10:05Z-
dc.date.available2021-08-18T07:10:05Z-
dc.date.created2021-06-14-
dc.date.issued2021-09-
dc.identifier.citationJOURNAL OF FUTURES MARKETS, v.41, no.9, pp.1397 - 1411-
dc.identifier.issn0270-7314-
dc.identifier.urihttp://hdl.handle.net/10203/287223-
dc.description.abstractThis paper constructs a model of an Emission Trading Scheme (ETS) market using bid-ask spreads. We show that when such a market is dominated by a small number of traders with substantial market power, they tend to maximize their profits by widening bid-ask spreads, thereby reducing market liquidity. We argue that adding more market participants, including derivatives traders, can alleviate this illiquidity problem. Policy changes at the European Union's ETS illustrate our theory, as the market significantly increased liquidity by enacting liquidity-provision policies to attract more participants as it transitioned from Phase 1 to Phase 2.-
dc.languageEnglish-
dc.publisherWILEY-
dc.titleImproving liquidity in emission trading schemes-
dc.typeArticle-
dc.identifier.wosid000656626100001-
dc.identifier.scopusid2-s2.0-85107282250-
dc.type.rimsART-
dc.citation.volume41-
dc.citation.issue9-
dc.citation.beginningpage1397-
dc.citation.endingpage1411-
dc.citation.publicationnameJOURNAL OF FUTURES MARKETS-
dc.identifier.doi10.1002/fut.22220-
dc.contributor.localauthorPark, Kwangwoo-
dc.contributor.nonIdAuthorKim, Jihun-
dc.description.isOpenAccessN-
dc.type.journalArticleArticle-
dc.subject.keywordAuthorEU ETS-
dc.subject.keywordAuthormarket activation-
dc.subject.keywordAuthormarket power-
dc.subject.keywordAuthorpolicy effectiveness-
dc.subject.keywordPlusCORPORATE ENVIRONMENTAL RESPONSIBILITY-
dc.subject.keywordPlusMARKET POWER-
dc.subject.keywordPlusBANKING-
dc.subject.keywordPlusNUMBER-
dc.subject.keywordPlusFIRMS-
dc.subject.keywordPlusCOST-
Appears in Collection
MT-Journal Papers(저널논문)
Files in This Item
There are no files associated with this item.

qr_code

  • mendeley

    citeulike


rss_1.0 rss_2.0 atom_1.0