About: COVID-19 Tests the Market Stability Reserve

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An Entity of Type : schema:ScholarlyArticle, within Data Space : covidontheweb.inria.fr associated with source document(s)

Attributes	Values
type	Academic Article research paper schema:ScholarlyArticle
isDefinedBy	Covid-on-the-Web dataset
title	COVID-19 Tests the Market Stability Reserve
Creator	Gerlagh, Reyer Heijmans, Roweno Knut, · Rosendahl, Einar
source	Medline; PMC
abstract	We compare the decrease in energy demand and CO2 emissions in Europe during the financial crisis 2008–2009 with the expected drop in demand and emissions due to COVID-19, and the price response of the EU Emission Trading System (EU ETS). We ask whether the rather limited current price reduction may be due to the Market Stability Reserve (MSR), implemented in the EU ETS between the two crises. Stylized facts and basic theory are complemented with simulations based on a model of the EU ETS. Together, they suggest a mixed result. The MSR stabilizes the EU ETS price in turbulent times, but imperfectly. We show that the more persistent the COVID-19 shock is, the less the MSR is able to serve its purpose.
has issue date	2020-08-04(xsd:dateTime)
bibo:doi	10.1007/s10640-020-00441-0
bibo:pmid	32836848
has license	cc-by
sha1sum (hex)	74f1e68ffbd242ca7fea747eaba2298c1a60b34c
schema:url	https://doi.org/10.1007/s10640-020-00441-0
resource representing a document's title	COVID-19 Tests the Market Stability Reserve
has PubMed Central identifier	PMC7399596
has PubMed identifier	32836848
schema:publication	Environ Resour Econ (Dordr)
resource representing a document's body	covid:74f1e68ffbd242ca7fea747eaba2298c1a60b34c#body_text
is schema:about of	named entity 'model' named entity 'MSR' named entity 'EU ETS' named entity 'ETS' named entity 'BASIC' »more»

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