Drivers of carbon prices in the European Union emission trading scheme

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2019
Uludağ, Arda
This thesis analyzes the interaction of the carbon prices in the European Union Emissions Trading System (EU ETS) with other macroeconomic variables. In the thesis, the relationship of carbon prices with the indicative variables related to industrial production, economic expectations, weather conditions and stock markets, mainly fossil fuels, has been discussed within the framework of ARDL (autoregressive distributed lag) co-integration method. Both the long-term and short-term relationships of this interaction have been put forward. In addition, the causality relationship between the variables is presented by adopting the Toda-Yamamoto Granger Non-Causality test approach.

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Citation Formats
A. Uludağ, “Drivers of carbon prices in the European Union emission trading scheme,” M.S. - Master of Science, Middle East Technical University, 2019.