Carbon and inflation

Carbon and inflation

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Carbon and inflation

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Pardo Tornero, Ángel
This document is a artículoDate2021
This paper investigates whether European Union Allowances (EUAs) can serve as an inflation hedge for two economic areas, four euro countries and two non-euro countries. The Extended Fisher Hypothesis is tested and the evidence shows a strong positive relationship between EUA returns and the unexpected inflation component in all the economic areas or countries analysed, except for the US. Therefore, EUAs are able to provide a hedge against unanticipated inflation rates.

    Pardo Tornero, Ángel 2021 Carbon and inflation Finance Research Letters 38

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