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Journal article
Energy prices and CO2 emission allowance prices: A quantile regression approach
Energy policy, v 70(70)
01 Jul 2014
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
We use a quantile regression framework to investigate the impact of changes in crude oil prices, natural gas prices, coal prices, and electricity prices on the distribution of the CO2 emission allowance prices in the United States. We find that: (i) an increase in the crude oil price generates a substantial drop in the carbon prices when the latter is very high; (ii) changes in the natural gas prices have a negative effect on the carbon prices when they are very low but have a positive effect when they are quite high; (iii) the impact of the changes in the electricity prices on the carbon prices can be positive in the right tail of the distribution; and (iv) the coal prices exert a negative effect on the carbon prices. (C) 2014 Elsevier Ltd. All rights reserved.
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Details
- Title
- Energy prices and CO2 emission allowance prices: A quantile regression approach
- Creators
- Shawkat Hammoudeh - Drexel UniversityDuc Khuong Nguyen - IPAG Business SchoolRicardo M. Sousa - University of Minho
- Publication Details
- Energy policy, v 70(70)
- Publisher
- Elsevier
- Number of pages
- 6
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Economics (School of Economics)
- Web of Science ID
- WOS:000336698500019
- Scopus ID
- 2-s2.0-84899916284
- Other Identifier
- 991019168103204721
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Economics
- Energy & Fuels
- Environmental Sciences
- Environmental Studies