%0 Journal Article
%T External Shocks and the Law of Carbon Price Fluctuation¡ªBased on the Framework of CWT and EEMD
%A Yihan Zhou
%A Xing Yang
%A Jianling Shu
%J Low Carbon Economy
%P 81-95
%@ 2158-7019
%D 2017
%I Scientific Research Publishing
%R 10.4236/lce.2017.83007
%X This paper focused on researching the fluctuation of
carbon trading price caused by the external shocks through analyzing the data
of three-phase carbon spot price from Blue Next Environmental Exchange and the
European Climate Exchange (ECX). The
results are the following: 1) released important
information and events will seriously affect the carbon price fluctuations; some important information are
released that cause sharp
fluctuations in a short period of time; the Sudden events lead to long-term,
drastic fluctuations in carbon price and its influence over the impact of important
information; 2) the impact of external
events is always corresponding to the low-frequency component of time sequence; this is because the low-frequency
component usually reflects the data signal amplitude which is severer, and the high-frequency component represents the data
signal amplitude which is a smaller part; it has