Template-Type: ReDIF-Article 1.0 
Author-Name: Taofeek O. AYINDE
Author-Name: Farouq A. ADEYEMI
Author-Email:  ayinde.taofeek@fuo.edu.ng
Author-Workplace-Name:  Department of Economics, Fountain University
Title: Global Evidence of Oil Supply Shocks and Climate Risk a GARCH-MIDAS Approach
Abstract:  The study examines the global evidence of oil supply shocks and climate risks. Using the GARCH-MIDAS regression and a dataset spanning the period 2000 – 2018, we find that oil supply shocks are a better predictor of climate risks than the inherent environmental factors. The evidence indicates that oil supply shocks dampen climate risk challenges through the reservation and conservation channels. To reduce oil supply shocks, the study recommends the deployment of moral suasions in oil resource-rich countries.
Classification-JEL:  C53 ,E23 ,E27 ,F47 ,Q47
Keywords:  Oil supply shocks, Global warming, Climate risk, GARCH-MIDAS, Predictability, Forecast evaluation
Journal:  Energy RESEARCH LETTERS
Pages: 1-7
Volume: 4
Issue: 2
Year:  2023
DOI:  2023/06/13
File-URL:  https://erl.scholasticahq.com/api/v1/articles/73221-global-evidence-of-oil-supply-shocks-and-climate-risk-a-garch-midas-approach.pdf
File-Format:  Application/pdf
Handle:  RePEc:ayb:jrnerl:78