Research Article

How Does the Time-Varying Network Structure Evolve between the EU Carbon Futures Prices and Industrial and Energy-Related Indices? A Study Based on a Time-Varying T-Copula

Table 1

Descriptive statistics and ADF smoothness test.

VariableStatisticsADF
SkewnessKurtosisJB-prob-statisticProbConclusion

EUA-1.057318.72840.001-52.5468620.001Smooth
MSCI developed/energy I-1.232926.85460.001-48.0897730.001Smooth
MSCI global/energy I-1.352926.72610.001-46.7169460.001Smooth
MSCI emerging/energy I-1.289117.10930.001-43.9073000.001Smooth
DJIA-0.9802526.31630.001-58.0885870.001Smooth
WTI0.09677426.26740.001-50.3695610.001Smooth

Note: , , , indicating that it is significant at the significance level of 1%, 5% and 10%.