Energy intensity has gone through different stages across Chinese regions. In this paper, we investigate the stochastic electricity-intensity convergence across the Chinese provinces. Unlike previous work, this paper highlights the relevance of the level of technology of each province and takes...

This paper provides a comprehensive nonlinear analysis of asymmetric adjustment of the dynamic relationship between energy intensity and urbanization using the time series data of 1978–2010 in China at both the national and the macro regional levels. Two sets of unit root tests are applied...

In this paper, we explore the strategy on hedging crude oil using refined product. We develop a regime switching asymmetric DCC (RS-ADCC) model by taking into account both of regime switching and asymmetry in correlations. Our out-of-sample findings indicate that RS-ADCC displays greater hedging...

According to the Rockets and Feathers Hypothesis (RFH), the transmission mechanism of positive and negative changes in the price of crude oil to the price of gasoline is asymmetric. Although there have been many contributions documenting that downstream prices are more reactive to increases than...