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Time–frequency co-movement between COVID-19, crude oil prices, and atmospheric CO(2) emissions: Fresh global insights from partial and multiple coherence approach

This paper endeavors to analyze and provide fresh global insights from the asymmetric nexus between the recent outbreak of COVID-19, crude oil prices, and atmospheric CO(2) emissions. The analysis employs a unique Morlet’s wavelet method. More precisely, this paper implements comprehensive wavelet c...

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Detalles Bibliográficos
Autores principales: Habib, Yasir, Xia, Enjun, Fareed, Zeeshan, Hashmi, Shujahat Haider
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Netherlands 2020
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7548058/
https://www.ncbi.nlm.nih.gov/pubmed/33071606
http://dx.doi.org/10.1007/s10668-020-01031-2
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author Habib, Yasir
Xia, Enjun
Fareed, Zeeshan
Hashmi, Shujahat Haider
author_facet Habib, Yasir
Xia, Enjun
Fareed, Zeeshan
Hashmi, Shujahat Haider
author_sort Habib, Yasir
collection PubMed
description This paper endeavors to analyze and provide fresh global insights from the asymmetric nexus between the recent outbreak of COVID-19, crude oil prices, and atmospheric CO(2) emissions. The analysis employs a unique Morlet’s wavelet method. More precisely, this paper implements comprehensive wavelet coherence analysis tools, including continuous wavelet coherence, partial wavelet coherence, and multiple wavelet coherence to the daily dataset spanning from December 31, 2019 to May 31, 2020. From the frequency perspective, this paper finds significant wavelet coherence and vigorous lead and lag connections. This analysis ascertains significant movement in variables over frequency and time domain. These results demonstrate strong but varying connotations between studied variables. The results also indicate that COVID-19 impacts crude oil prices and the most contributor to the reduction in CO(2) emissions during the pandemic period. This study offers practical and policy implications and endorsements for individuals, environmental experts, and investors. GRAPHIC ABSTRACT: [Image: see text]
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spelling pubmed-75480582020-10-14 Time–frequency co-movement between COVID-19, crude oil prices, and atmospheric CO(2) emissions: Fresh global insights from partial and multiple coherence approach Habib, Yasir Xia, Enjun Fareed, Zeeshan Hashmi, Shujahat Haider Environ Dev Sustain Article This paper endeavors to analyze and provide fresh global insights from the asymmetric nexus between the recent outbreak of COVID-19, crude oil prices, and atmospheric CO(2) emissions. The analysis employs a unique Morlet’s wavelet method. More precisely, this paper implements comprehensive wavelet coherence analysis tools, including continuous wavelet coherence, partial wavelet coherence, and multiple wavelet coherence to the daily dataset spanning from December 31, 2019 to May 31, 2020. From the frequency perspective, this paper finds significant wavelet coherence and vigorous lead and lag connections. This analysis ascertains significant movement in variables over frequency and time domain. These results demonstrate strong but varying connotations between studied variables. The results also indicate that COVID-19 impacts crude oil prices and the most contributor to the reduction in CO(2) emissions during the pandemic period. This study offers practical and policy implications and endorsements for individuals, environmental experts, and investors. GRAPHIC ABSTRACT: [Image: see text] Springer Netherlands 2020-10-11 2021 /pmc/articles/PMC7548058/ /pubmed/33071606 http://dx.doi.org/10.1007/s10668-020-01031-2 Text en © Springer Nature B.V. 2020 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Article
Habib, Yasir
Xia, Enjun
Fareed, Zeeshan
Hashmi, Shujahat Haider
Time–frequency co-movement between COVID-19, crude oil prices, and atmospheric CO(2) emissions: Fresh global insights from partial and multiple coherence approach
title Time–frequency co-movement between COVID-19, crude oil prices, and atmospheric CO(2) emissions: Fresh global insights from partial and multiple coherence approach
title_full Time–frequency co-movement between COVID-19, crude oil prices, and atmospheric CO(2) emissions: Fresh global insights from partial and multiple coherence approach
title_fullStr Time–frequency co-movement between COVID-19, crude oil prices, and atmospheric CO(2) emissions: Fresh global insights from partial and multiple coherence approach
title_full_unstemmed Time–frequency co-movement between COVID-19, crude oil prices, and atmospheric CO(2) emissions: Fresh global insights from partial and multiple coherence approach
title_short Time–frequency co-movement between COVID-19, crude oil prices, and atmospheric CO(2) emissions: Fresh global insights from partial and multiple coherence approach
title_sort time–frequency co-movement between covid-19, crude oil prices, and atmospheric co(2) emissions: fresh global insights from partial and multiple coherence approach
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7548058/
https://www.ncbi.nlm.nih.gov/pubmed/33071606
http://dx.doi.org/10.1007/s10668-020-01031-2
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