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David Pearce Lecture 2015

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Emissions trading: lessons from the theory and empirics
Julien Chevallier EconomiX- CNRS, University of Paris 10

The EU ETS provides for the first time the possibility of contrasting our theoretical understanding with empirical findings that draw on modern econometric work. The session covers the issues driving the work in this field as well as of the evolvement of theory and empirics.

Julien Chevallier is a Tenured Associate Professor of Economics and Director of the MSc Money, Banking, Finance & Insurance at University of Paris 8. Dr. Chevallier received his Ph.D. in Economics from the University Paris West in 2008, and his M.Sc. in Economics from the London School of Economics in 2005. He undertakes research and lectures on empirical finance, applied time-series econometrics, and commodity markets. Furthermore, Dr. Chevallier currently serves as Associate Editor at Energy Economics among other appointments. 

Julien Chevallier is a pioneer in the empirical research on currently working emissions trading schemes, an instrument originally developed in environmental economics. In particular, his work has focused on the performance of the European Union Emissions Trading Scheme. Chevallier applies modern financial econometrics tools to examine a broad set of topics related to emissions trading and its theory. His research includes topics, such as drivers and structural changes in carbon prices, the informational efficiency of EU ETS, and cross-market linkages between emissions trading and energy markets. His work provides deeps insight on how to examine risk components in carbon prices and impacts of risks and risk aversion in a trading market where borrowing is possible.

Dr. Chevallier is the author of the book Econometric Analysis of Carbon Markets (Springer), as well as the co-author of the Book The Economics of Commodity Markets (Wiley Finance). He has published articles in leading refereed journals of finance and environmental economics, including the International Review of Financial Analysis and Quantitative Finance; Environmental and Resource Economics and Resource and Energy Economics.

This series of lectures in honour of the late David Pearce have the objective of giving a prominent space within the EAERE conferences to the presentation of high quality work on the application of environmental economics to real policy making. The David Pearce Lectures were inaugurated in 2009 and take place during a Plenary lecture every year at the Association's Annual Conference.

Dr. Chevalier webpage

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