A Comparison Research on Dynamic Characteristics of Chinese and American Energy Prices

This study compares the dynamic characteristic of Chinese and American energy prices from perspectives learning expectation, volatility, persistence, so on. First, most suitable speeds for are determined price expectations calculated by models. Second, volatility characteristics Granger-spillover effects among different examined using stochastic models based on coefficient significance DIC criteria. Third, correlation coefficients obtained selected that have lower values. Fourth, foreign introduced into persistence model, reasons behind empirically tested compared. Finally, conclusions suggestions given theoretical analysis empirical results.