气候风险以及清洁和肮脏能源市场之间的联系

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-01-15 DOI:10.1016/j.frl.2025.106799

Jingyan Huang, Zhenhua Liu, Kun Guo

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引用次数: 0

摘要

气候风险对复杂的能源市场体系构成重大挑战和威胁。本文阐明了清洁能源市场和肮脏能源市场之间的相互作用，并进一步研究了它们对气候风险的不对称反应。气候风险的影响超出了极值范围，并对清洁和肮脏能源市场之间连通性的总体分布产生重大影响。随着物理风险的加剧，清洁能源和脏能源市场之间的连通性都在增强。异常的转型风险会增加能源市场波动的不确定性，并加剧清洁能源市场与污染能源市场的区别。

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Climate risks and the connectedness between clean and dirty energy markets

Climate risks pose significant challenges and threats to complex energy market system. This paper illuminates the interactions between clean and dirty energy markets and further investigates their asymmetric responses to climate risks. The influence of climate risks extends beyond extreme values and has a substantial impact on the overall distribution of the connectedness between clean and dirty energy markets. As the physical risk intensifies, the connectedness within both clean and dirty energy markets increases. The abnormal transition risk will render energy market fluctuations more uncertain and accentuate the distinction between clean and dirty energy markets.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance