Research on the transmission path between China's coal price and carbon emission rights trading price
As an emerging market,the carbon market is vulnerable to the interference of energy price factors.Re-search on the transmission path between coal price and carbon emission rights trading price(hereinafter referred to as carbon price)under the dual carbon goal is conducive to the healthy operation of carbon trading market and its role in emission reduction.On the basis of analyzing the transmission mechanism between coal price and carbon price,this paper uses DCC-GARCH model to reveal the dynamic relationship between coal index and carbon price,and uses VAR model to empirically test the transmission path between coal price and carbon price,and the causality between energy consumption structure,energy efficiency and dynamic correlation coefficient.The em-pirical results show that there is a significant dynamic correlation between coal price and carbon price,and it presents complexity and variability.The carbon market has not made full use of its innovation incentive effect.Compared with energy use efficiency,the transmission between coal price and carbon price through the path of energy consumption structure is more significant.The adjustment of energy consumption structure is the Granger reason for the change of dynamic correlation coefficient,while the change of energy efficiency is not the reason.According to the research conclusion,this paper puts forward relevant countermeasures and suggestions.
NETL
NSTL
万方数据
