1. Αποθετήριο Παραδοτέων Υποτρόφων Δράσεων ΕΣΠΑ Τριτοβάθμιας Εκπαίδευσης 2017-2023
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3. Ερευνητικές ομάδες

Τύπος:	Άρθρο σε επιστημονικό περιοδικό
Τίτλος:	On the impacts of allowance banking and the fnancial sector on the EU Emissions Trading System
Συγγραφέας:	[EL] Σωτήριος, Δήμος[EN] Dimos, Sotirios [EL] Ευαγγελάτου, Ελένη[EN] Evangelatou, Eleni [EL] Φωτάκης, Δημήτριος[EN] Fotakis, Dimitris [EL] Μάντης, Ανδρέας[EN] Mantis, Andreas [EL] Μαθιουδάκη, Αγγελική[EN] Mathioudaki, A.
Ημερομηνία:	02/07/2020
Περίληψη:	The European Union Emissions Trading System (EU ETS) is the largest cap-and-trade system in the world. Price instability and allowance oversupply are two characteristics that affect the objectives and the efficiency of this policy. In this work, we investigate the impact of storing allowances (“banking”) on the allowance price and the power of the financial sector in the trading network of the ETS. To that end, we use data from the EU Transaction Log (EUTL) along with data on the most important allowance price determinants. We apply a multiple regression analysis that considers many important price determinants that are both endogenous and exogenous to the ETS, and quantify how the allowance price depends on the total volume of stored allowances. Our analysis indicates that banking is a notable - though not the dominant -price determinant, and quantifies its significance. Moreover, we study the role of financial nodes in the ETS trading network. Analyzing the betweenness centrality of financial, regulated, and governmental entities in the trading network of ETS over a period of more than 10 years, we provide strong evidence of the significant power of financial entities in the ETS trading network, which arises due to their role as intermediaries in allowance trading. Our work could provide the basis for a compact and relatively simple tool to evaluate and estimate the performance of one of the most prominent environmental policies, the EU ETS.
Γλώσσα:	Αγγλικά
Σελίδες:	25
DOI:	10.1007/s41207-020-00167-x
ISSN:	2365-6433
Θεματική κατηγορία:	[EL] Διεπιστημονικές εφαρμογές επιστήμης ηλεκτρονικών υπολογιστών[EN] Computer Science Interdisciplinary Applications
Λέξεις-κλειδιά:	Emission trading system; EUA banking; Allowance price; Multiple linear regression; ETS trading network
Κάτοχος πνευματικών δικαιωμάτων:	© Springer Nature Switzerland AG 2020
Ηλεκτρονική διεύθυνση του τεκμηρίου στον εκδότη:	https://link.springer.com/article/10.1007/s41207-020-00167-x
Ηλεκτρονική διεύθυνση περιοδικού:	https://www.springer.com/journal/41207
Τίτλος πηγής δημοσίευσης:	Euro-Mediterranean Journal for Environmental Integration
Τεύχος:	5
Σελίδες τεκμηρίου (στην πηγή):	Article no 34
Σημειώσεις:	This research was carried out/funded in the context of the project “Applications of Reverse Greedy Mechanisms to Social Choice problems” (MIS 5004766) under the call for proposals “Supporting Researchers with Emphasis on New Researchers” (EDULLL 34). The project was cofnanced by Greece and the European Union (European Social Fund, ESF) through the operational program “Human Resources Development, Education and Lifelong Learning 2014–2020.”
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