索引(排版)
地缘政治学
经济
市场风险
气候变化
风险管理
金融经济学
计量经济学
自然资源经济学
财务
政治学
地质学
海洋学
政治
万维网
计算机科学
法学
作者
Qinen Gu,Shaofang Li,Sihua Tian,Yuyouting Wang
标识
DOI:10.1016/j.frl.2023.104392
摘要
Using meteorological monitoring data from eight climate disasters across the globe along with financial data from the WTI and BNG energy markets, this study employs the fixed-base extreme difference entropy method to construct a climate risk index (CRI) and investigates the relationship between climate risk, geopolitical risk (GPR), and energy market risk based on the mixed-frequency VAR (MF-VAR) method. The empirical results show that an increase in both GPR and CRI is related to an increase in energy market risk, and that a higher CRI is associated with greater GPR. Moreover, the positive relationship between CRI scores and energy market risk after the Paris Agreement has grown stronger.
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