On interaction between carbon spot prices and Czech steel industry

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F20%3A00518938" target="_blank" >RIV/67985556:_____/20:00518938 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/61989100:27510/20:10243989

Výsledek na webu

<a href="https://www.tandfonline.com/doi/full/10.1080/17583004.2020.1712262" target="_blank" >https://www.tandfonline.com/doi/full/10.1080/17583004.2020.1712262</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1080/17583004.2020.1712262" target="_blank" >10.1080/17583004.2020.1712262</a>

Jazyk výsledku

angličtina

Název v původním jazyce

On interaction between carbon spot prices and Czech steel industry

Popis výsledku v původním jazyce

Environmental policy in the European Union is a frequent topic when speaking about a strategic development of national economies, their sectors, or companies. This paper is focused on transmissions between the European carbon market and the Czech steel industry. This relationship is worth exploring for two main reasons – first, iron and steel industry is responsible for a substantial part of CO2 pollution covered by the European Union emissions trading system (EU ETS) and, second, this sector is a traditional and vital industry in the Czech Republic. We use the dynamic Factor Augmented Vector Autoregression (FAVAR) model and Granger causality analysis to identify and assess the interactions between the factors of the EU ETS (prices of emission allowances and grandfathering), and factors of the steel industry like prices and amounts of production. To the best of our knowledge, this is the first application of the FAVAR model to analyse an industrial sector, and it is also the first analysis of the given topic where so many influencing factors are involved (this is allowed by the FAVAR model). The main results show that steel companies in the Czech Republic pass through the emission costs to customers.

Název v anglickém jazyce

On interaction between carbon spot prices and Czech steel industry

Popis výsledku anglicky

Environmental policy in the European Union is a frequent topic when speaking about a strategic development of national economies, their sectors, or companies. This paper is focused on transmissions between the European carbon market and the Czech steel industry. This relationship is worth exploring for two main reasons – first, iron and steel industry is responsible for a substantial part of CO2 pollution covered by the European Union emissions trading system (EU ETS) and, second, this sector is a traditional and vital industry in the Czech Republic. We use the dynamic Factor Augmented Vector Autoregression (FAVAR) model and Granger causality analysis to identify and assess the interactions between the factors of the EU ETS (prices of emission allowances and grandfathering), and factors of the steel industry like prices and amounts of production. To the best of our knowledge, this is the first application of the FAVAR model to analyse an industrial sector, and it is also the first analysis of the given topic where so many influencing factors are involved (this is allowed by the FAVAR model). The main results show that steel companies in the Czech Republic pass through the emission costs to customers.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50203 - Industrial relations

Projekt

<a href="/cs/project/GA16-01298S" target="_blank" >GA16-01298S: Dynamické rozhodování ocelářského podniku obchodujícího s emisemi</a><br>

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2020

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Carbon Management

ISSN

1758-3004

e-ISSN

—

Svazek periodika

11

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

17

Strana od-do

121-137

Kód UT WoS článku

000511629800001

EID výsledku v databázi Scopus

2-s2.0-85078498579