In this paper, we aim to explore the relationship between the carbon emissions and oil prices from 2014 to 2021 in China using the Morlet continuous wavelet and the maximal overlap discrete wavelet transform. The results indicate that there is a positive correlation in the period from 2014 to 2018 with carbon prices leading. After 2019, the two series show a positive correlation in the medium and high-frequency domains with oil prices leading.
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Huidian et al. (2024) studied this question.
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