An intuitive portrayal of the correlation between the carbon and energy markets is essential for risk control and green financial investment management.In this paper,we investigate the asymmetric spillovers between th...An intuitive portrayal of the correlation between the carbon and energy markets is essential for risk control and green financial investment management.In this paper,we investigate the asymmetric spillovers between the carbon mar-ket and energy market returns.To achieve that,we improve the Diebold-Yilmaz index model by a time-varying vector autoregressive(TVP-VAR)model.In a unified network,our daily dataset includes the closing prices of the Hubei carbon market,Shenzhen carbon market,coal futures,and energy stock index.The findings reveal that both the Hubei and Shen-zhen pilots typically generate net information spillovers on energy futures.In connection with energy stocks,the Hubei carbon market acts as a net receiver,while the Shenzhen carbon market is a net transmitter.Compared with the Hubei pi-lot,the Shenzhen pilot is more tightly connected to the energy markets.Furthermore,the spillovers of the carbon markets exhibit significant asymmetry.In most cases,they have more substantial impacts on the energy markets when the prices of emission allowances rise.The direction and magnitude of asymmetric spillovers across markets vary over time and can be influenced by certain economic or political events.展开更多
The steady and dynamic rheological behaviors of precipitated calcium carbonate (PCC) suspension in polyethylene glycol (PEG) were investigated on a TA AR2000ex rheometer. Under steady shear consistency index K and flo...The steady and dynamic rheological behaviors of precipitated calcium carbonate (PCC) suspension in polyethylene glycol (PEG) were investigated on a TA AR2000ex rheometer. Under steady shear consistency index K and flow exponent N of suspensions with different volume fractions were determined. The shear-thinning and the discontinuous shear-thickening behavior were observed at different constant frequencies from 10 to 100 rad/s. The relationship between the complex viscosity and the constant frequency were determined. As the volume fraction increases,flow exponent N shows a rapid increase,and it increases dramatically when the discontinuous shear-thickening takes place,while consistency index K decreases. Dynamic oscillatory shear experiments were conducted at constant strain amplitude and constant frequency,respectively. For the frequency sweep,the system shows viscous property in entire range of the frequency investigated,and the complex viscosity shows discontinuous jump at a critical frequency of 10 rad/s. For the strain sweep,on the other hand,at low strain the elastic modulus is strongly dependent on the strain,and the viscous modulus is independent of the strain. But at the critical strain point both of the moduli show an abrupt jump and the system transits from elastic to viscous at a strain of 0.1.展开更多
基金supported by the National Natural Science Foundation of China(71973001).
文摘An intuitive portrayal of the correlation between the carbon and energy markets is essential for risk control and green financial investment management.In this paper,we investigate the asymmetric spillovers between the carbon mar-ket and energy market returns.To achieve that,we improve the Diebold-Yilmaz index model by a time-varying vector autoregressive(TVP-VAR)model.In a unified network,our daily dataset includes the closing prices of the Hubei carbon market,Shenzhen carbon market,coal futures,and energy stock index.The findings reveal that both the Hubei and Shen-zhen pilots typically generate net information spillovers on energy futures.In connection with energy stocks,the Hubei carbon market acts as a net receiver,while the Shenzhen carbon market is a net transmitter.Compared with the Hubei pi-lot,the Shenzhen pilot is more tightly connected to the energy markets.Furthermore,the spillovers of the carbon markets exhibit significant asymmetry.In most cases,they have more substantial impacts on the energy markets when the prices of emission allowances rise.The direction and magnitude of asymmetric spillovers across markets vary over time and can be influenced by certain economic or political events.
基金Projects (50774096, 50606017) supported by the National Natural Science Foundation of China
文摘The steady and dynamic rheological behaviors of precipitated calcium carbonate (PCC) suspension in polyethylene glycol (PEG) were investigated on a TA AR2000ex rheometer. Under steady shear consistency index K and flow exponent N of suspensions with different volume fractions were determined. The shear-thinning and the discontinuous shear-thickening behavior were observed at different constant frequencies from 10 to 100 rad/s. The relationship between the complex viscosity and the constant frequency were determined. As the volume fraction increases,flow exponent N shows a rapid increase,and it increases dramatically when the discontinuous shear-thickening takes place,while consistency index K decreases. Dynamic oscillatory shear experiments were conducted at constant strain amplitude and constant frequency,respectively. For the frequency sweep,the system shows viscous property in entire range of the frequency investigated,and the complex viscosity shows discontinuous jump at a critical frequency of 10 rad/s. For the strain sweep,on the other hand,at low strain the elastic modulus is strongly dependent on the strain,and the viscous modulus is independent of the strain. But at the critical strain point both of the moduli show an abrupt jump and the system transits from elastic to viscous at a strain of 0.1.
