Repository hosing the carbon policy surprises and estimated carbon policy shocks from Känzig (2025).
The surprises and shocks are stored in the carbonPolicyShocks.xlsx file. The file contains the following sheets:
| Variable | Description |
|---|---|
| Surprise | Daily carbon policy surprises measured as euro change in carbon price, relative to prevailing wholesale electricity price, purged from macro, financial, and oil market news. |
| Variable | Description |
|---|---|
| Surprise | Monthly carbon policy surprises, aggregated by summing over daily surprises. |
| Shock | Carbon policy shock, identified using the external instruments VAR using the surprise series as an instrument for the energy price residual. |
The original carbon policy shocks based on the previous version of the paper (April, 2023) can be found in the legacy folder.
If you have any questions, please contact me at [email protected].