Does Climate Risk Amplify Oil Market Volatility?-Reference-Cited by-同舟云学术

Does Climate Risk Amplify Oil Market Volatility?

Published:2023-06-30 Issue:2 Volume:4 Page:
ISSN:2652-6433
Container-title:Energy RESEARCH LETTERS
language:en
Short-container-title:

Author:

Isah Kazeem¹²^ORCID,Odebode Adedapo³,Ogunjemilua Oluwafemi⁴

Affiliation:

1. University of KwaZulu-Natal (UKZN), South Africa

2. Kogi State University, Nigeria

3. Central Bank of Nigeria, Nigeria

4. North Dakota State University, USA

Abstract

Motivated by the increasing evidence of oil price-related transition risk from climate change, we employ the classic GARCH (1,1) and its extended variant (GARCH-X) to identify the degree of oil market volatility that is due to climate risk. We find that climate risk increases the persistence of volatility in the oil markets.

Publisher

Asia-Pacific Applied Economics Association

Subject

General Medicine

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