External Shocks and the Law of Carbon Price Fluctuation—Based on the Framework of CWT and EEMD ()
ABSTRACT
This paper focused on researching the fluctuation of
carbon trading price caused by the external shocks through analyzing the data
of three-phase carbon spot price from Blue Next Environmental Exchange and the
European Climate Exchange (ECX). The
results are the following: 1) released important
information and events will seriously affect the carbon price fluctuations; some important information are
released that cause sharp
fluctuations in a short period of time; the Sudden events lead to long-term,
drastic fluctuations in carbon price and its influence over the impact of important
information; 2) the impact of external
events is always corresponding to the low-frequency component of time sequence; this is because the low-frequency
component usually reflects the data signal amplitude which is severer, and the high-frequency component represents the data
signal amplitude which is a smaller part; it has random fluctuations of the time sequence.
Share and Cite:
Zhou, Y. , Yang, X. and Shu, J. (2017) External Shocks and the Law of Carbon Price Fluctuation—Based on the Framework of CWT and EEMD.
Low Carbon Economy,
8, 81-95. doi:
10.4236/lce.2017.83007.
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