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Energy Price Shocks – Economic Impacts

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (15 May 2022) | Viewed by 2759

Special Issue Editors

COPPEAD Graduate Business School, Federal University of Rio de Janeiro, Rua Paschoal Lemme, 355, 21949-900, Rio de Janeiro, Brazil
Interests: soft computing; business; multi-criteria modeling for industry benchmarking; banking; risk management; information theory; energy economics
Faculty of Economics and ICS, University of Navarra, E-31080 Pamplona, Spain
Interests: econometrics; quantitative methods
Department of Accountancy, Finance and Economics, University of Huddersfield, Huddersfield, UK
Interests: empirical banking (bank performance, bank stability and bank competition); small businesses and hospitality management
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Special Issue Information

Dear Colleagues,

Climate change is currently one of the main social issues being faced by all countries in the world. The United Nations have set a goal to reduce greenhouse gas emissions to net 0 by 2050. One of the methods that will facilitate the achievement of this target is the use of renewable energy resources; a growing number of research studies have been devoted to investigating this issue. As well as paying attention to specific energy resources, society should also focus on additional efforts that aid in optimizing the use of energy resources; in other words, the ways in which energy resources can be used in an efficient manner should be a major focus of academic researchers, as well as government regulatory authorities.

Besides climate change, another issue in the energy sector is the fact that the prices of different energy resources, such as gas, coal, and electricity, have recently risen to their highest levels in decades, together with the fact that the majority of the countries in the world are still suffering from the negative impact of coronavirus, and economies are still attempting to navigate a way out of the recession. The higher prices of energy resources will pose a threat to the economy, in terms of recovery and growth.

This Special Issue aims to deal with both of these important issues in the energy industry by focusing on, but not limited to, the following topics of interest:

▪ Innovative modelling on energy production;

▪ Energy price and energy demand;

▪ The nature of shocks in energy prices;

▪ Policy investigation to deal with climate change and energy price volatility;

▪ The relationship between energy price shocks and GDP;

▪ The relationship between energy price shock and consumers’ expenditure patterns;

▪ The relationship between energy price shocks and inflation;

▪ The relationship between energy price shock and stock prices.

Dr. Peter Wanke
Prof. Dr. Luis Alberiko Gil-Alana
Dr. Yong (Aaron) Tan
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • price shocks
  • information entropy
  • sustainable sources
  • CO2 emissions

Published Papers (1 paper)

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Research

18 pages, 2905 KiB  
Article
Climate Risks and the Realized Volatility Oil and Gas Prices: Results of an Out-of-Sample Forecasting Experiment
by Rangan Gupta and Christian Pierdzioch
Energies 2021, 14(23), 8085; https://0-doi-org.brum.beds.ac.uk/10.3390/en14238085 - 02 Dec 2021
Cited by 14 | Viewed by 2101
Abstract
We extend the widely-studied Heterogeneous Autoregressive Realized Volatility (HAR-RV) model to examine the out-of-sample forecasting value of climate-risk factors for the realized volatility of movements of the prices of crude oil, heating oil, and natural gas. The climate-risk factors have been constructed in [...] Read more.
We extend the widely-studied Heterogeneous Autoregressive Realized Volatility (HAR-RV) model to examine the out-of-sample forecasting value of climate-risk factors for the realized volatility of movements of the prices of crude oil, heating oil, and natural gas. The climate-risk factors have been constructed in recent literature using techniques of computational linguistics, and consist of daily proxies of physical (natural disasters and global warming) and transition (U.S. climate policy and international summits) risks involving the climate. We find that climate-risk factors contribute to out-of-sample forecasting performance mainly at a monthly and, in some cases, also at a weekly forecast horizon. We demonstrate that our main finding is robust to various modifications of our forecasting experiment, and to using three different popular shrinkage estimators to estimate the extended HAR-RV model. We also study longer forecast horizons of up to three months, and we account for the possibility that policymakers and forecasters may have an asymmetric loss function. Full article
(This article belongs to the Special Issue Energy Price Shocks – Economic Impacts)
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