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Information Linkage between Carbon and Energy Markets: Multiplex Recurrence Network Approach
Joint Authors
Wang, Minggang
Xu, Hua
Yang, Weiguo
Source
Issue
Vol. 2020, Issue 2020 (31 Dec. 2020), pp.1-12, 12 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2020-08-11
Country of Publication
Egypt
No. of Pages
12
Main Subjects
Abstract EN
In this paper, a multilayer recurrence network is introduced to examine the information linkage between carbon and energy markets.
We first construct a multilayer recurrence network of energy and carbon markets, and we define the information linkage coefficient to measure the linkage relationship between the network layers based on the network microstructure.
To measure the mutual leading relationship between carbon and energy markets, we construct a time-delay multilayer recurrence network and introduce the time-delay information linkage coefficient to measure the intersystem interaction.
The carbon and energy prices, including West Texas Intermediate crude oil, coal, natural gas, and gasoline, from February 22, 2011, to April 1, 2019, are selected as sample data for empirical analysis.
The results show that the linkage relationship between oil, coal, natural gas, and carbon prices presents a U-shaped trend in the second, transitional, and third phases of the European Union carbon market, while the linkage trend of gasoline and carbon prices continues to rise.
The mutual leading relationship between energy and carbon prices changes in different stages, and carbon price plays a leading role at the present stage.
American Psychological Association (APA)
Xu, Hua& Wang, Minggang& Yang, Weiguo. 2020. Information Linkage between Carbon and Energy Markets: Multiplex Recurrence Network Approach. Complexity،Vol. 2020, no. 2020, pp.1-12.
https://search.emarefa.net/detail/BIM-1142579
Modern Language Association (MLA)
Xu, Hua…[et al.]. Information Linkage between Carbon and Energy Markets: Multiplex Recurrence Network Approach. Complexity No. 2020 (2020), pp.1-12.
https://search.emarefa.net/detail/BIM-1142579
American Medical Association (AMA)
Xu, Hua& Wang, Minggang& Yang, Weiguo. Information Linkage between Carbon and Energy Markets: Multiplex Recurrence Network Approach. Complexity. 2020. Vol. 2020, no. 2020, pp.1-12.
https://search.emarefa.net/detail/BIM-1142579
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1142579