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 LCE  Vol.8 No.3 , September 2017
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.
Cite this paper: 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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