Research on Carbon Allowance Price Non-Linear
Structure Characteristics and Regime Switching
Mechanism in China's Carbon Market
Jia Wei,
Jiahe Chen
Abstract:Carbon allowance prices (CAP) directly reflect the overall movement of the carbon market, which is the core of the carbon market operation and an important perspective for studying the carbon market. Based on the threshold model and regime switching model, through studying the performance of CAP in China's carbon market, the paper has the following conclusions. First, CAP show significant non-linear structure and three operating intervals of high, medium, and low, with most of the time being active in the medi… Show more
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