Comparing the asymmetric efficiency of dirty and clean energy markets pre and during COVID-19.
Asymmetric multifractality
COVID-19 pandemic
Clean energy sector
Crisis periods
Energy markets
Journal
Economic analysis and policy
ISSN: 0313-5926
Titre abrégé: Econ Anal Policy
Pays: Australia
ID NLM: 101534797
Informations de publication
Date de publication:
Sep 2022
Sep 2022
Historique:
received:
06
02
2022
revised:
16
06
2022
accepted:
16
06
2022
entrez:
5
7
2022
pubmed:
6
7
2022
medline:
6
7
2022
Statut:
ppublish
Résumé
In the backdrop of the recent COVID-19 pandemic, the study examines the comparative asymmetric efficiency of dirty and clean energy markets pre and during the COVID-19 pandemic. For this purpose, we utilize an asymmetric multifractality detrended fluctuation analysis (A-MF-DFA). The study's findings uncover the presence of asymmetric multifractality in clean and dirty energy markets. In addition, multifractality in the energy markets is sensitive to trends, time horizon and major events. More importantly, the results suggest superior efficiency of clean-energy markets compared to conventional energies. We confirm the time-varying nature of market efficiency in the energy markets, and during the recent COVID-19 outbreak, market inefficiencies in the clean and dirty energy markets soared. In this way, the study holds meaningful insights for policymakers, energy policy practitioners, investors, and financial market participants to choose between clean (dirty) investments based on their asymmetric efficiency (inefficiency).
Identifiants
pubmed: 35789957
doi: 10.1016/j.eap.2022.06.015
pii: S0313-5926(22)00101-1
pmc: PMC9243432
doi:
Types de publication
Journal Article
Langues
eng
Pagination
548-562Informations de copyright
© 2022 Economic Society of Australia, Queensland. Published by Elsevier B.V. All rights reserved.
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