所属栏目:银行与金融机构/风险管理

The Impact of Biodiversity Risk on US Agricultural Futures Markets
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发布日期:2026年03月04日 上次修订日期:2026年03月04日

摘要

This paper examines biodiversity risk transmission to US agricultural futures markets. We find: (1) all futures exhibit moderate-to-high biodiversity sensitivity, with coffee showing highest response through transparent price transmission mechanisms; (2) wavelet analysis reveals time-frequency heterogeneity, where tropical crops maintain strong long-term synchronization with biodiversity risk, intensified during COVID-19; (3) frequency-dependent asymmetric correlations emerge, with grains shifting from positive long-cycle to negative short-cycle correlations; (4) systemic spillover analysis indicates moderate interdependence, with soybeans as primary risk receiver and sugar as dominant transmitter, revealing differentiated transmission roles.
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曾泓竣 The Impact of Biodiversity Risk on US Agricultural Futures Markets (2026年03月04日) https://www.cfrn.com.cn/lw/16600.html

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