Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?

This study compares the dynamic spillover effects of gold and Bitcoin prices on the oil and stock market during the COVID-19 pandemic via time-varying parameter vector autoregression. Both time-varying and time-point results indicate that gold is a safe haven for oil and stock markets during the COV...

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Detalles Bibliográficos
Autores principales: Wen, Fenghua, Tong, Xi, Ren, Xiaohang
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8964013/
https://www.ncbi.nlm.nih.gov/pubmed/36536769
http://dx.doi.org/10.1016/j.irfa.2022.102121
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author Wen, Fenghua
Tong, Xi
Ren, Xiaohang
author_facet Wen, Fenghua
Tong, Xi
Ren, Xiaohang
author_sort Wen, Fenghua
collection PubMed
description This study compares the dynamic spillover effects of gold and Bitcoin prices on the oil and stock market during the COVID-19 pandemic via time-varying parameter vector autoregression. Both time-varying and time-point results indicate that gold is a safe haven for oil and stock markets during the COVID-19 pandemic. However, unlike gold, Bitcoin's response is the opposite, rejecting the safe haven property. Further analysis shows that the safe-haven effects of gold on the stock market become stronger when the pandemic critically spreads.
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spelling pubmed-89640132022-03-30 Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic? Wen, Fenghua Tong, Xi Ren, Xiaohang Int Rev Financ Anal Article This study compares the dynamic spillover effects of gold and Bitcoin prices on the oil and stock market during the COVID-19 pandemic via time-varying parameter vector autoregression. Both time-varying and time-point results indicate that gold is a safe haven for oil and stock markets during the COVID-19 pandemic. However, unlike gold, Bitcoin's response is the opposite, rejecting the safe haven property. Further analysis shows that the safe-haven effects of gold on the stock market become stronger when the pandemic critically spreads. Elsevier Inc. 2022-05 2022-03-29 /pmc/articles/PMC8964013/ /pubmed/36536769 http://dx.doi.org/10.1016/j.irfa.2022.102121 Text en © 2022 Elsevier Inc. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Wen, Fenghua
Tong, Xi
Ren, Xiaohang
Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?
title Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?
title_full Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?
title_fullStr Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?
title_full_unstemmed Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?
title_short Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?
title_sort gold or bitcoin, which is the safe haven during the covid-19 pandemic?
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8964013/
https://www.ncbi.nlm.nih.gov/pubmed/36536769
http://dx.doi.org/10.1016/j.irfa.2022.102121
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AT renxiaohang goldorbitcoinwhichisthesafehavenduringthecovid19pandemic

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