https://www.selleckchem.com/pr....oducts/sar439859.htm
Different from the previous studies that evaluated the degrees of carbon market efficiency as constant, the novelty of this work is to capture degrees of market efficiency that are time-varying over time and its static and dynamic relationship with liquidity in China's five emissions trading system (ETS) pilots (Beijing, Guangdong, Shanghai, Shenzhen and Hubei) from January 2017 to June 2019. For this purpose, this work employs the generalized autoregressive conditional heteroscedasticity in mean (GARCH(1,1)-M) model with state space
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