Underlining the unprecedented rise in climate risks recently, it is crucial to assess the influence of climate risks on the volatility of the stock markets to maintain financial stability. This paper employs wavelet m...
详细信息
Underlining the unprecedented rise in climate risks recently, it is crucial to assess the influence of climate risks on the volatility of the stock markets to maintain financial stability. This paper employs wavelet methods and discrete wavelet-based Granger causality tests to comprehensively analyze the complex details of volatility spillovers between climate risks and stock markets from 2013 to 2024. Meanwhile, a time-varying Granger causality test is applied to detect volatility relationships during major events. The outcomes reveal a discernible connection between climate risks and stock market volatility, with physical climate risk demonstrating notable associations with both short-term and long-term volatility, particularly in energy stock markets. The primary source of short- to midterm stock market fluctuations is transition risk, significantly impacting energy and total stock markets. The causal relationships are further heightened during major events. Notably, this study underscores the critical importance of monitoring physical climate risk, an essential contributor to transition risk and stock market volatility, which is currently underestimated by the market. These findings aim to provide valuable insights for policymakers and investors, aiding in informed risk avoidance and decision-making within the framework of climate change scenarios. Moreover, it emphasizes constructing comprehensive climate risk monitoring frameworks and corresponding incentive climate policies to manage the multi-domain interconnects between climate risks and stock markets.
A streamlined object detection approach is introduced, leveraging advanced feature fusion techniques to address the constraints of limited computational resources in unmanned aerial vehicles (UAVs). The proposed metho...
详细信息
Background Since long COVID has hindered people from normal life, it is essential to understand its full spectrum of manifestation. However, it was heterogeneous in the existing studies and few large-scale studies hav...
详细信息
Background Since long COVID has hindered people from normal life, it is essential to understand its full spectrum of manifestation. However, it was heterogeneous in the existing studies and few large-scale studies have been conducted on Asian populations. Here, we conducted a multi-centre questionnaire-based study among Chinese people to explore the long COVID based on the definition of WHO. Methods During March 20, 2023 and June 18, 2023, individuals with a history of confirmed or self-reported SARS-CoV-2 infection were recruited from three hospitals to fill out the questionnaire for long COVID. Each symptom was assigned with 0 to 3 points based on their severity. And the long COVID score was a sum of these points of each symptom. The reporting rate, time trend and risk factors of long COVID stratified by different systems were explored. Results 3,693 individuals were recruited for the study. The reporting rate of at least one persistent long COVID symptoms and symptoms impacting daily life was 30.2% (1,117) and 10.7% (394). Systemic symptoms (20.7%, 765) were most easily reported. The most common symptoms were fatigue (16.3%, 602), cough (6.3%, 234) and expectoration (5.5%, 203). The reporting rate of long COVID and long COVID score decreased over time during a 180-day follow-up period (P < 0.05). For long COVID, older age (OR: 1.63, 1.38-1.93), female (OR: 1.19, 1.03-1.38) and SARS-CoV-2 reinfection (OR: 3.56, 2.63-4.80) were risk factors;while number of COVID-19 vaccine doses (OR: 0.87, 0.81-0.94) was a protective factor. The use of traditional Chinese medicine (OR: 0.51, 0.37-0.71) was a protective factor for symptoms impacting daily life. Conclusions Early interventions should be taken to minimize the impact of long COVID, especially for the elderly, females and those with SARS-CoV-2 reinfection. COVID-19 booster vaccination might play a potential role in minimizing the impact of long COVID.
After decades of evolution, the financial system has increasingly deviated from an idealized framework based on precise theorems. It necessitates accurate projections of complex market dynamics and human behavioral pa...
详细信息
After decades of evolution, the financial system has increasingly deviated from an idealized framework based on precise theorems. It necessitates accurate projections of complex market dynamics and human behavioral patterns. With the development of data science and machine intelligence, researchers are trying to digitalize and automate market prediction. However, existing methodologies struggle to represent the diversity of individuals and are regardless of the domino effects of interactions on market dynamics, leading to the poor performance facing abnormal market conditions where non-quantitative information dominates the market. To alleviate these disadvantages requires the introduction of knowledge about how non-quantitative information, like news and policy, affects market dynamics. This study investigates overcoming these challenges through rehearsing potential market trends based on the financial large language model agents whose behaviors are aligned with their cognition and analyses in markets. We propose a hierarchical knowledge architecture for financial large language model agents, integrating fine-tuned language models and specialized generators optimized for trading scenarios. For financial market, we develop an advanced interactive behavioral simulation system that enables users to configure agents and automate market simulations. In this work, we take commodity futures as an example to research the effectiveness of our methodologies. Our real-world case simulation succeeds in rehearsing abnormal market dynamics under geopolitical events and reaches an average accuracy of 3.4% across various points in time after the event on predicting futures price. Under normal market conditions, with corresponding news, our simulator also exhibits lower mean square error than series deep learning models and large language models in predicting three-day futures price of specific commodities. All experimental results demonstrate our method effectively leverages diver
Fillers significantly affect the efficient operation of biotrickling filters (BTFs). Herein, structured polypropylene fillers modified with polydopamine (PDA) and cationic polyacrylamide (CPAM) were developed to reduc...
详细信息
Shocks in the international crude oil prices can significantly influence financial markets globally, particularly in oil-dependent economies. However, the sensitivity of immature African stock markets in net oil impor...
详细信息
Shocks in the international crude oil prices can significantly influence financial markets globally, particularly in oil-dependent economies. However, the sensitivity of immature African stock markets in net oil importing and exporting nations to different kinds of oil shocks has been ignored in extant literature. This paper investigates the connectedness and spillover between oil price shocks (demand, supply, and risk) and African stocks while jointly considering the market states, time horizons, and time-varying nature of the two markets. Employing Ready's technique and quantile time-frequency connectedness approach, the study reveals that oil demand, supply, and risk shocks exert varying spillover impacts on African stock returns with respect to market states and time scales. The overall connectedness under the bearish state in the long term is relatively higher compared to the bullish state. The net transmission effects from oil price shocks to African stock returns are exhibited in the long-term (above 5 days), not in the short-term (1-5 days). Oil exporters (Nigeria, Egypt, and Tunisia) are more vulnerable to oil price shocks than oil importers (except Tanzania). These results provide crucial implications for investors, policymakers, and other stakeholders to make well-informed decisions.
The PDE approach developed earlier by the first three authors for L infinity estimates for fully nonlinear equations on K & auml;hler manifolds is shown to apply as well to Monge-Amp & egrave;re and Hessian eq...
详细信息
The PDE approach developed earlier by the first three authors for L infinity estimates for fully nonlinear equations on K & auml;hler manifolds is shown to apply as well to Monge-Amp & egrave;re and Hessian equations on nef classes. In particular, one obtains a new proof of the estimates of Boucksom, Eyssidieux, Guedj and Zeriahi (2010) and Fu, Guo and Song (2020) for the Monge-Amp & egrave;re equation, together with their generalization to Hessian equations.
暂无评论