Connectedness between energy and nonenergy commodity markets: Evidence from quantile coherency networks

Impact of COVID-19 on the quantile connectedness between energy, metals and agriculture commodities

“…Rotemberg and Pindyck (1990) pioneering work asserts that commodity prices strongly co-move due to their similar behavior. These findings led to the development of a new avenue of research, and after that, countless studies examined the spillovers among commodity prices, returns, and volatilities (e.g., Serra, 2011 ; Du and McPhail, 2012 ; Lahiani et al, 2013 ; Nazlioglu et al, 2013 ; Mensi et al, 2014 ; Koirala et al, 2015 ; Zhang and Tu, 2016 ; Cabrera and Schulz, 2016 ; Kang et al, 2017 ; Dutta and Noor, 2017 ; Zhang and Broadstock, 2018 ; Chan et al, 2018 ; Yahya et al, 2019 ; Tiwari et al, 2020 ; Ji et al, 2020 ; Li and Su, 2020 ; Yip et al, 2020 ; Khalfaoui et al, 2021 ). For example, Du and McPhail (2012) illustrate significant volatility spillovers between the agricultural commodities and crude oil market.…”

Time‐varying pure contagion effect between energy and nonenergy commodity markets

“…Previous studies have demonstrated that the strong linkages between energy and nonenergy commodity markets are mainly caused by cost‐push effects and supply and demand shocks (Ciaian & Kancs, 2011; Khalfaoui, Baumöhl, et al, 2021). On the one hand, energy is an important driver in the extraction, smelting, processing, and transportation of metals (Ahmadi et al, 2016; Liu, Zhang, et al, 2021), and its price increases or decreases will directly determine the production costs of the industrial sector and the market supply of related products.…”

“…On the one hand, energy is an important driver in the extraction, smelting, processing, and transportation of metals (Ahmadi et al, 2016; Liu, Zhang, et al, 2021), and its price increases or decreases will directly determine the production costs of the industrial sector and the market supply of related products. Through cost‐push effects, fluctuations in energy prices further transmit to the agricultural markets (Khalfaoui, Baumöhl, et al, 2021). On the other hand, changes in energy prices tend to reflect the trend of the world economy, and the amount of economic activity influences the market demand for nonenergy commodities.…”

Analysis of the Impact of Livestock Structure on Carbon Emissions of Animal Husbandry: A Sustainable Way to Improving Public Health and Green Environment

“…Besides, they also have a key constraint to green and low-carbon economic development (1,2). Excessive carbon emissions exacerbate global warming and deteriorating environmental quality (3)(4)(5), obligating humans to face severe risks, such as economic stagnation, health damage, resource shortages, and extreme weather events (6)(7)(8)(9)(10). According to the Food and Agriculture Organization of the United Nations (FAO), animal husbandry has contributed to 9% of anthropogenic carbon emissions while emitting 37% of anthropogenic methane, 65% of anthropogenic nitrous oxide, and 64% of anthropogenic nitrogen (11) 1 .…”