Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump Diffusion
In order to explore carbon market regulation mechanism more effectively, based on carbon accumulation model with jump diffusion, this paper studies the carbon price from two perspectives of quantity instrument and price instrument and quantitatively simulates carbon price regulation mechanisms in th...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Wiley
2014-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2014/135818 |
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| _version_ | 1850173115970093056 |
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| author | Dongmei Guo Yi Hu Bingjie Zhang |
| author_facet | Dongmei Guo Yi Hu Bingjie Zhang |
| author_sort | Dongmei Guo |
| collection | DOAJ |
| description | In order to explore carbon market regulation mechanism more effectively, based on carbon accumulation model with jump diffusion, this paper studies the carbon price from two perspectives of quantity instrument and price instrument and quantitatively simulates carbon price regulation mechanisms in the light of actual operation of EU carbon market. The results show that quantity instrument and price instrument both have certain effects on carbon market; according to the comparison of the elasticity change of the expected carbon price, comparative advantages of both instruments rely on the price of carbon finance market. Where the carbon price is excessively high, price instrument is superior to quantity instrument; where carbon price is excessively low, quantity instrument is better than price instrument. Therefore, in the case of carbon market regulation based on expected carbon price, if the carbon price is too high, price instrument should prevail; if the carbon price is excessively low, quantity instrument should prevail. |
| format | Article |
| id | doaj-art-d18f5020362e462fb987585e68a2b370 |
| institution | OA Journals |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2014-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-d18f5020362e462fb987585e68a2b3702025-08-20T02:19:55ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2014-01-01201410.1155/2014/135818135818Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump DiffusionDongmei Guo0Yi Hu1Bingjie Zhang2School of Economics, Central University of Finance and Economics, Beijing 100081, ChinaSchool of Management, University of Chinese Academy of Sciences, Beijing 100190, ChinaSchool of Economics and Management, Beihang University, Beijing 100083, ChinaIn order to explore carbon market regulation mechanism more effectively, based on carbon accumulation model with jump diffusion, this paper studies the carbon price from two perspectives of quantity instrument and price instrument and quantitatively simulates carbon price regulation mechanisms in the light of actual operation of EU carbon market. The results show that quantity instrument and price instrument both have certain effects on carbon market; according to the comparison of the elasticity change of the expected carbon price, comparative advantages of both instruments rely on the price of carbon finance market. Where the carbon price is excessively high, price instrument is superior to quantity instrument; where carbon price is excessively low, quantity instrument is better than price instrument. Therefore, in the case of carbon market regulation based on expected carbon price, if the carbon price is too high, price instrument should prevail; if the carbon price is excessively low, quantity instrument should prevail.http://dx.doi.org/10.1155/2014/135818 |
| spellingShingle | Dongmei Guo Yi Hu Bingjie Zhang Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump Diffusion Discrete Dynamics in Nature and Society |
| title | Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump Diffusion |
| title_full | Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump Diffusion |
| title_fullStr | Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump Diffusion |
| title_full_unstemmed | Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump Diffusion |
| title_short | Carbon Market Regulation Mechanism Research Based on Carbon Accumulation Model with Jump Diffusion |
| title_sort | carbon market regulation mechanism research based on carbon accumulation model with jump diffusion |
| url | http://dx.doi.org/10.1155/2014/135818 |
| work_keys_str_mv | AT dongmeiguo carbonmarketregulationmechanismresearchbasedoncarbonaccumulationmodelwithjumpdiffusion AT yihu carbonmarketregulationmechanismresearchbasedoncarbonaccumulationmodelwithjumpdiffusion AT bingjiezhang carbonmarketregulationmechanismresearchbasedoncarbonaccumulationmodelwithjumpdiffusion |