Pricing Mechanism Analysis Of Carbon Emission Rights In Trading Market

With the intensification of the greenhouse effect, the development of low-carbon economy has became an international hot issue.The establishment of the framework of global greenhouse gas emissions makes the carbon emission rights to be scarce resource in the international market.Using the means of marketization to drive the development of the global low-carbon economy is recognized as the most effective environmental protection way. Therefore, carbon emissions trading and carbon financial market naturally formed.This paper aims to explore the price rules of carbon emissions.With the trading data of European climate exchange as the sample.using time series model, linear regression model and mixed regression-time series model to make empirical research about the price change of carbon emissions respectively. Time series model mainly use outside push mechanism to explore the price rules of carbon emissions rights. Linear regression model studys the the relationship between the spot price and the futures price of carbon emission rights. The innovation of this paper is establishing the mixed regression-time series model, this model combines linear regression with time series model effectively together to improve the precision of prediction. Finally,I evaluate these three models based on the analysis of empirical results,and propose feasible suggestions on carbon financial development of our country in the future.