id sid tid token lemma pos work_7pg23p3x4nd3zknse5pgx4fa7y 1 1 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 1 2 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 3 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 4 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 1 5 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 6 Markets Markets NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 7 Diane Diane NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 8 Pierret Pierret NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 9 Université Université NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 10 Catholique Catholique NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 11 de de NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 12 Louvain Louvain NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 13 & & CC work_7pg23p3x4nd3zknse5pgx4fa7y 1 14 New New NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 15 York York NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 16 University University NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 17 6th 6th NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 18 PhD phd NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 19 Day Day NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 20 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 21 Louvain Louvain NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 22 - - HYPH work_7pg23p3x4nd3zknse5pgx4fa7y 1 23 la la NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 24 - - HYPH work_7pg23p3x4nd3zknse5pgx4fa7y 1 25 Neuve Neuve NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 26 2012 2012 CD work_7pg23p3x4nd3zknse5pgx4fa7y 1 27 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 28 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 29 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 1 30 risk risk NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 31 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 1 32 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 1 33 risk risk NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 34 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 1 35 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 1 36 financial financial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 1 37 sector sector NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 38 as as IN work_7pg23p3x4nd3zknse5pgx4fa7y 1 39 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 1 40 whole whole JJ work_7pg23p3x4nd3zknse5pgx4fa7y 1 41 being being NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 42 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 1 43 distress distress NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 44 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 1 45 its -PRON- PRP$ work_7pg23p3x4nd3zknse5pgx4fa7y 1 46 spillover spillover NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 47 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 1 48 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 1 49 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 50 at at IN work_7pg23p3x4nd3zknse5pgx4fa7y 1 51 large large JJ work_7pg23p3x4nd3zknse5pgx4fa7y 1 52 Systemic systemic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 1 53 risk risk NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 54 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 1 55 related relate VBN work_7pg23p3x4nd3zknse5pgx4fa7y 1 56 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 1 57 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 1 58 dependence dependence NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 59 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 60 causality causality NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 61 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 62 externality externality NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 63 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 64 interconnectedness interconnectedness NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 65 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 66 spillover spillover NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 67 effects effect NNS work_7pg23p3x4nd3zknse5pgx4fa7y 1 68 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 1 69 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 70 integration integration NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 71 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 72 contagion contagion NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 73 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 74 commonality commonality NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 75 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 1 76 shocks shock NNS work_7pg23p3x4nd3zknse5pgx4fa7y 1 77 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 78 crises crisis NNS work_7pg23p3x4nd3zknse5pgx4fa7y 1 79 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 1 80 extreme extreme JJ work_7pg23p3x4nd3zknse5pgx4fa7y 1 81 events event NNS work_7pg23p3x4nd3zknse5pgx4fa7y 1 82 Does do VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 1 83 this this DT work_7pg23p3x4nd3zknse5pgx4fa7y 1 84 exist exist VB work_7pg23p3x4nd3zknse5pgx4fa7y 1 85 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 1 86 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 1 87 markets market NNS work_7pg23p3x4nd3zknse5pgx4fa7y 1 88 ? ? . work_7pg23p3x4nd3zknse5pgx4fa7y 2 1 How how WRB work_7pg23p3x4nd3zknse5pgx4fa7y 2 2 to to TO work_7pg23p3x4nd3zknse5pgx4fa7y 2 3 measure measure VB work_7pg23p3x4nd3zknse5pgx4fa7y 2 4 it -PRON- PRP work_7pg23p3x4nd3zknse5pgx4fa7y 2 5 ? ? . work_7pg23p3x4nd3zknse5pgx4fa7y 3 1 How how WRB work_7pg23p3x4nd3zknse5pgx4fa7y 3 2 does do VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 3 3 this this DT work_7pg23p3x4nd3zknse5pgx4fa7y 3 4 affect affect VB work_7pg23p3x4nd3zknse5pgx4fa7y 3 5 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 3 6 rest rest NN work_7pg23p3x4nd3zknse5pgx4fa7y 3 7 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 3 8 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 3 9 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 3 10 ? ? . work_7pg23p3x4nd3zknse5pgx4fa7y 4 1 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 4 2 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 4 3 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 4 4 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 4 5 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 4 6 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 4 7 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 4 8 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 4 9 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 4 10 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 4 11 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 4 12 risk risk NN work_7pg23p3x4nd3zknse5pgx4fa7y 4 13 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 4 14 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 4 15 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 4 16 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 4 17 raising raise VBG work_7pg23p3x4nd3zknse5pgx4fa7y 4 18 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 4 19 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 4 20 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 4 21 all all DT work_7pg23p3x4nd3zknse5pgx4fa7y 4 22 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 4 23 commodities commodity NNS work_7pg23p3x4nd3zknse5pgx4fa7y 4 24 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 4 25 negative negative JJ work_7pg23p3x4nd3zknse5pgx4fa7y 4 26 consequences consequence NNS work_7pg23p3x4nd3zknse5pgx4fa7y 4 27 for for IN work_7pg23p3x4nd3zknse5pgx4fa7y 4 28 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 4 29 real real JJ work_7pg23p3x4nd3zknse5pgx4fa7y 4 30 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 4 31 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 5 1 increased increase VBN work_7pg23p3x4nd3zknse5pgx4fa7y 5 2 dependence dependence NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 3 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 4 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 5 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 6 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 7 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 8 increased increase VBN work_7pg23p3x4nd3zknse5pgx4fa7y 5 9 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 10 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 11 integration integration NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 12 extreme extreme JJ work_7pg23p3x4nd3zknse5pgx4fa7y 5 13 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 14 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 15 shock shock NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 16 from from IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 17 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 18 supply supply NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 19 side side NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 20 negative negative JJ work_7pg23p3x4nd3zknse5pgx4fa7y 5 21 consequences consequence NNS work_7pg23p3x4nd3zknse5pgx4fa7y 5 22 for for IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 23 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 24 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 25 sector sector NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 26 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 5 27 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 28 rest rest NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 29 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 30 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 31 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 32 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 33 Security Security NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 34 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 5 35 ” " '' work_7pg23p3x4nd3zknse5pgx4fa7y 5 36 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 37 uninterrupted uninterrupted JJ work_7pg23p3x4nd3zknse5pgx4fa7y 5 38 availability availability NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 39 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 40 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 41 sources source NNS work_7pg23p3x4nd3zknse5pgx4fa7y 5 42 at at IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 43 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 44 affordable affordable JJ work_7pg23p3x4nd3zknse5pgx4fa7y 5 45 price price NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 46 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 5 47 ” " '' work_7pg23p3x4nd3zknse5pgx4fa7y 5 48 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 5 49 IEA IEA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 50 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 5 51 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 5 52 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 5 53 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 5 54 Related related JJ work_7pg23p3x4nd3zknse5pgx4fa7y 5 55 literature literature NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 56 This this DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 57 project project NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 58 relates relate VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 5 59 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 60 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 61 literature literature NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 62 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 63 Past past JJ work_7pg23p3x4nd3zknse5pgx4fa7y 5 64 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 65 crises crisis NNS work_7pg23p3x4nd3zknse5pgx4fa7y 5 66 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 5 67 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 68 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 69 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 70 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 71 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 5 72 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 5 73 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 5 74 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 5 75 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 5 76 Hamilton Hamilton NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 77 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 5 78 1983 1983 CD work_7pg23p3x4nd3zknse5pgx4fa7y 5 79 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 5 80 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 81 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 82 Network Network NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 83 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 5 84 Nier Nier NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 85 et et NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 86 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 5 87 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 6 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 6 2 2007 2007 CD work_7pg23p3x4nd3zknse5pgx4fa7y 6 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 6 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 6 5 Battiston Battiston NNP work_7pg23p3x4nd3zknse5pgx4fa7y 6 6 et et FW work_7pg23p3x4nd3zknse5pgx4fa7y 6 7 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 6 8 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 7 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 7 2 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 7 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 7 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 7 5 Billio Billio NNP work_7pg23p3x4nd3zknse5pgx4fa7y 7 6 et et NNP work_7pg23p3x4nd3zknse5pgx4fa7y 7 7 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 7 8 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 8 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 8 2 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 8 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 8 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 8 5 Hautsch Hautsch NNP work_7pg23p3x4nd3zknse5pgx4fa7y 8 6 et et NNP work_7pg23p3x4nd3zknse5pgx4fa7y 8 7 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 8 8 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 9 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 9 2 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 9 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 9 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 9 5 Diebold Diebold NNP work_7pg23p3x4nd3zknse5pgx4fa7y 9 6 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 9 7 Yilmaz Yilmaz NNP work_7pg23p3x4nd3zknse5pgx4fa7y 9 8 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 9 9 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 9 10 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 9 11 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 9 12 Co co NN work_7pg23p3x4nd3zknse5pgx4fa7y 9 13 - - NNS work_7pg23p3x4nd3zknse5pgx4fa7y 9 14 movements movement NNS work_7pg23p3x4nd3zknse5pgx4fa7y 9 15 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 9 16 Billio Billio NNP work_7pg23p3x4nd3zknse5pgx4fa7y 9 17 et et NNP work_7pg23p3x4nd3zknse5pgx4fa7y 9 18 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 9 19 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 10 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 10 2 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 10 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 10 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 10 5 Kritzman Kritzman NNP work_7pg23p3x4nd3zknse5pgx4fa7y 10 6 et et FW work_7pg23p3x4nd3zknse5pgx4fa7y 10 7 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 10 8 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 11 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 11 2 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 11 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 11 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 11 5 Acharya Acharya NNP work_7pg23p3x4nd3zknse5pgx4fa7y 11 6 et et NNP work_7pg23p3x4nd3zknse5pgx4fa7y 11 7 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 11 8 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 12 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 2 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 12 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 12 5 Brownlees Brownlees NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 6 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 12 7 Engle Engle NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 8 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 9 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 12 10 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 11 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 12 Energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 12 13 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 12 14 co co VBD work_7pg23p3x4nd3zknse5pgx4fa7y 12 15 - - NNS work_7pg23p3x4nd3zknse5pgx4fa7y 12 16 movements movement NNS work_7pg23p3x4nd3zknse5pgx4fa7y 12 17 Cointegration cointegration NN work_7pg23p3x4nd3zknse5pgx4fa7y 12 18 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 12 19 causality causality NN work_7pg23p3x4nd3zknse5pgx4fa7y 12 20 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 12 21 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 12 22 mean mean NN work_7pg23p3x4nd3zknse5pgx4fa7y 12 23 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 24 Bunn Bunn NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 25 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 12 26 Fezzi Fezzi NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 27 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 28 2008 2008 CD work_7pg23p3x4nd3zknse5pgx4fa7y 12 29 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 30 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 31 Multivariate Multivariate NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 32 Volatility volatility NN work_7pg23p3x4nd3zknse5pgx4fa7y 12 33 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 34 Chevallier Chevallier NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 35 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 36 2012 2012 CD work_7pg23p3x4nd3zknse5pgx4fa7y 12 37 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 12 38 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 12 39 Bauwens Bauwens NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 40 et et NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 41 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 12 42 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 13 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 13 2 2012 2012 CD work_7pg23p3x4nd3zknse5pgx4fa7y 13 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 13 4 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 13 5 Copulae Copulae NNP work_7pg23p3x4nd3zknse5pgx4fa7y 13 6 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 13 7 Benth Benth NNP work_7pg23p3x4nd3zknse5pgx4fa7y 13 8 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 13 9 Kettler Kettler NNP work_7pg23p3x4nd3zknse5pgx4fa7y 13 10 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 13 11 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 13 12 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 13 13 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 13 14 Boerger Boerger NNP work_7pg23p3x4nd3zknse5pgx4fa7y 13 15 et et FW work_7pg23p3x4nd3zknse5pgx4fa7y 13 16 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 13 17 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 14 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 14 2 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 14 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 14 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 14 5 Gronwald Gronwald NNP work_7pg23p3x4nd3zknse5pgx4fa7y 14 6 et et NNP work_7pg23p3x4nd3zknse5pgx4fa7y 14 7 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 14 8 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 15 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 15 2 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 15 4 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 15 5 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 6 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 15 7 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 8 Outline outline NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 9 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 10 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 15 11 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 12 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 13 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 14 Measure measure NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 15 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 15 16 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 17 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 18 Econometric econometric JJ work_7pg23p3x4nd3zknse5pgx4fa7y 15 19 methodology methodology NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 20 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 15 21 application application NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 22 Causility Causility NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 23 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 15 24 means mean NNS work_7pg23p3x4nd3zknse5pgx4fa7y 15 25 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 15 26 variances variance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 15 27 Factor Factor NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 28 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 29 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 15 30 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 31 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 15 32 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 33 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 34 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 15 35 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 15 36 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 37 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 15 38 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 15 39 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 40 4 4 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 41 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 15 42 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 43 Outline Outline NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 44 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 45 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 15 46 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 47 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 48 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 49 Measure measure NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 50 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 15 51 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 52 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 53 Econometric econometric JJ work_7pg23p3x4nd3zknse5pgx4fa7y 15 54 methodology methodology NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 55 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 15 56 application application NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 57 Causility Causility NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 58 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 15 59 means mean NNS work_7pg23p3x4nd3zknse5pgx4fa7y 15 60 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 15 61 variances variance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 15 62 Factor Factor NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 63 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 64 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 15 65 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 66 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 15 67 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 68 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 69 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 15 70 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 15 71 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 72 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 15 73 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 15 74 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 75 5 5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 76 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 15 77 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 15 78 EnSysRISK ensysrisk NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 79 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 15 80 conditional conditional JJ work_7pg23p3x4nd3zknse5pgx4fa7y 15 81 MES mes NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 82 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 15 83 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 15 84 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 85 asset asset NN work_7pg23p3x4nd3zknse5pgx4fa7y 15 86 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 15 87 Acharya Acharya NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 88 et et NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 89 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 15 90 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 16 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 2 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 4 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 5 Brownlees Brownlees NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 6 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 16 7 Engle Engle NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 8 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 9 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 10 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 11 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 12 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 16 13 given give VBN work_7pg23p3x4nd3zknse5pgx4fa7y 16 14 by by IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 15 MESit MESit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 16 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 16 17 Et−1 et−1 NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 18 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 19 rit rit VB work_7pg23p3x4nd3zknse5pgx4fa7y 16 20 |energy |energy CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 21 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 22 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 23 Corresponding correspond VBG work_7pg23p3x4nd3zknse5pgx4fa7y 16 24 systemic systemic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 25 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 16 26 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 16 27 derived derive VBN work_7pg23p3x4nd3zknse5pgx4fa7y 16 28 from from IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 29 past past JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 30 price price NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 31 levels level NNS work_7pg23p3x4nd3zknse5pgx4fa7y 16 32 syspriceit syspriceit VBP work_7pg23p3x4nd3zknse5pgx4fa7y 16 33 = = -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 34 pit−1 pit−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 35 ∗exp(MESit ∗exp(mesit CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 36 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 37 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 38 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 16 39 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 40 total total JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 41 cost cost NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 42 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 43 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 44 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 45 asset asset NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 46 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 47 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 48 non non JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 49 - - JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 50 energy energy JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 51 sector sector NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 52 during during IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 53 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 54 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 55 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 56 EnSysRISKit EnSysRISKit . work_7pg23p3x4nd3zknse5pgx4fa7y 16 57 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 16 58 max(0 max(0 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 59 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 60 syspriceit syspriceit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 61 ∗wit ∗wit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 62 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 63 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 64 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 16 65 wit wit NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 66 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 16 67 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 68 quantity quantity NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 69 exposure exposure NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 70 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 71 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 72 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 73 to to TO work_7pg23p3x4nd3zknse5pgx4fa7y 16 74 asset asset VB work_7pg23p3x4nd3zknse5pgx4fa7y 16 75 i i PRP work_7pg23p3x4nd3zknse5pgx4fa7y 16 76 at at IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 77 time time NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 78 t. t. NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 79 For for IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 80 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 81 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 82 contract contract NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 83 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 84 maturity maturity NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 85 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 16 86 delivery delivery NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 87 period period NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 88 ν ν NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 89 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 90 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 91 exposure exposure NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 92 at at IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 93 time time NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 94 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 95 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 16 96 wit wit NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 97 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 98 ν ν NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 99 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 100 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 16 101 ςi ςi PRP work_7pg23p3x4nd3zknse5pgx4fa7y 16 102 Et−1 Et−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 103 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 104 fincons fincon NNS work_7pg23p3x4nd3zknse5pgx4fa7y 16 105 τ τ LS work_7pg23p3x4nd3zknse5pgx4fa7y 16 106 − − NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 107 inv inv NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 108 τ τ NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 109 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 110 for for IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 111 τ τ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 112 ∈ ∈ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 113 [ [ -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 114 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 115 + + SYM work_7pg23p3x4nd3zknse5pgx4fa7y 16 116 ν ν NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 117 ; ; : work_7pg23p3x4nd3zknse5pgx4fa7y 16 118 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 119 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 16 120 2ν 2ν CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 121 −1 −1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 122 ] ] -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 123 6 6 CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 124 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 16 125 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 126 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 127 MES mes NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 128 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 129 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 130 markets market NNS work_7pg23p3x4nd3zknse5pgx4fa7y 16 131 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 132 1/2 1/2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 133 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 134 Energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 135 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 136 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 16 137 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 138 extreme extreme JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 139 positive positive JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 140 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 141 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 142 shock shock NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 143 from from IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 144 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 145 supply supply NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 146 side side NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 147 MESit MESit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 148 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 149 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 150 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 151 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 16 152 Et−1 et−1 FW work_7pg23p3x4nd3zknse5pgx4fa7y 16 153 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 154 rit rit VB work_7pg23p3x4nd3zknse5pgx4fa7y 16 155 |rEnM |rEnM NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 156 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 157 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 158 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 16 159 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 160 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 161 rM rM NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 162 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 163 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 164 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 16 165 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 16 166 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 167 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 168 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 16 169 rEnM renm NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 170 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 171 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 172 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 16 173 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 174 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 175 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 176 return return NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 177 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 178 rM rM NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 179 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 180 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 181 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 16 182 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 183 return return NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 184 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 185 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 186 non non JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 187 - - JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 188 energy energy JJ work_7pg23p3x4nd3zknse5pgx4fa7y 16 189 sector sector NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 190 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 16 191 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 16 192 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 16 193 represents represent VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 16 194 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 195 VaR var NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 196 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 197 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 16 198 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 199 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 16 200 at at IN work_7pg23p3x4nd3zknse5pgx4fa7y 16 201 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 16 202 1−α)% 1−α)% CD work_7pg23p3x4nd3zknse5pgx4fa7y 16 203 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 17 1 An an DT work_7pg23p3x4nd3zknse5pgx4fa7y 17 2 extreme extreme JJ work_7pg23p3x4nd3zknse5pgx4fa7y 17 3 increase increase NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 4 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 17 5 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 6 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 7 ... ... . work_7pg23p3x4nd3zknse5pgx4fa7y 17 8 Not not RB work_7pg23p3x4nd3zknse5pgx4fa7y 17 9 only only RB work_7pg23p3x4nd3zknse5pgx4fa7y 17 10 oil oil NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 11 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 12 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 17 13 “ " `` work_7pg23p3x4nd3zknse5pgx4fa7y 17 14 While while IN work_7pg23p3x4nd3zknse5pgx4fa7y 17 15 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 17 16 security security NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 17 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 17 18 oil oil NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 19 supplies supply NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 20 remains remain VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 17 21 important important JJ work_7pg23p3x4nd3zknse5pgx4fa7y 17 22 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 23 contemporary contemporary JJ work_7pg23p3x4nd3zknse5pgx4fa7y 17 24 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 25 security security NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 26 policies policy NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 27 must must MD work_7pg23p3x4nd3zknse5pgx4fa7y 17 28 address address VB work_7pg23p3x4nd3zknse5pgx4fa7y 17 29 all all DT work_7pg23p3x4nd3zknse5pgx4fa7y 17 30 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 31 sources source NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 32 ” " '' work_7pg23p3x4nd3zknse5pgx4fa7y 17 33 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 34 IEA IEA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 35 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 17 36 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 37 Integration integration NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 38 dimensions dimension NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 39 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 17 40 underlying underlie VBG work_7pg23p3x4nd3zknse5pgx4fa7y 17 41 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 42 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 43 oil oil NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 44 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 45 coal coal NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 46 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 47 natural natural JJ work_7pg23p3x4nd3zknse5pgx4fa7y 17 48 gas gas NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 49 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 50 electricity electricity NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 51 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 52 carbon carbon NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 53 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 54 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 55 maturity maturity NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 56 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 17 57 delivery delivery NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 58 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 59 region region NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 60 Futures future NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 61 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 62 7 7 CD work_7pg23p3x4nd3zknse5pgx4fa7y 17 63 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 17 64 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 17 65 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 17 66 MES mes NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 67 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 17 68 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 69 markets market NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 70 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 71 2/2 2/2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 17 72 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 73 Methodology methodology NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 74 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 17 75 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 17 76 conditional conditional JJ work_7pg23p3x4nd3zknse5pgx4fa7y 17 77 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 78 as as IN work_7pg23p3x4nd3zknse5pgx4fa7y 17 79 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 17 80 function function NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 81 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 17 82 mean mean NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 83 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 84 volatility volatility NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 85 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 17 86 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 87 expectation expectation NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 88 MESit MESit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 89 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 90 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 91 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 92 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 17 93 Et−1 Et−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 94 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 95 µit µit NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 96 + + SYM work_7pg23p3x4nd3zknse5pgx4fa7y 17 97 σit σit NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 98 uit uit VB work_7pg23p3x4nd3zknse5pgx4fa7y 17 99 |rEnMt |rEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 100 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 17 101 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 102 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 103 rMt rmt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 17 104 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 17 105 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 17 106 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 107 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 17 108 µit µit NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 109 + + SYM work_7pg23p3x4nd3zknse5pgx4fa7y 17 110 σit σit VB work_7pg23p3x4nd3zknse5pgx4fa7y 17 111 Et−1 Et−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 112 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 113 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 114 |rEnMt |rEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 115 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 17 116 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 117 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 17 118 rMt rmt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 17 119 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 17 120 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 17 121 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 122 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 17 123 µit µit NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 124 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 17 125 σ σ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 126 2it 2it NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 127 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 17 128 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 17 129 conditional conditional JJ work_7pg23p3x4nd3zknse5pgx4fa7y 17 130 mean mean NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 131 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 17 132 variance variance NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 133 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 17 134 asset asset NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 135 return return NN work_7pg23p3x4nd3zknse5pgx4fa7y 17 136 i i NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 137 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 17 138 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 139 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 17 140 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 141 rit rit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 142 − − NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 143 µit µit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 17 144 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 17 145 /σit /σit CD work_7pg23p3x4nd3zknse5pgx4fa7y 17 146 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 17 147 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 17 148 standardized standardized JJ work_7pg23p3x4nd3zknse5pgx4fa7y 17 149 residuals residual NNS work_7pg23p3x4nd3zknse5pgx4fa7y 17 150 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 18 1 Separate separate JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 2 causality causality NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 3 from from IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 4 common common JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 5 factor factor NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 6 exposure exposure NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 7 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 8 Causality causality NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 9 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 10 µit µit NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 11 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 12 σit σit NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 13 Heteroskedasticity heteroskedasticity NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 14 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 15 causality causality NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 16 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 18 17 removed remove VBN work_7pg23p3x4nd3zknse5pgx4fa7y 18 18 to to TO work_7pg23p3x4nd3zknse5pgx4fa7y 18 19 concentrate concentrate VB work_7pg23p3x4nd3zknse5pgx4fa7y 18 20 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 21 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 18 22 ’ ' `` work_7pg23p3x4nd3zknse5pgx4fa7y 18 23 pure pure JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 24 ’ ' '' work_7pg23p3x4nd3zknse5pgx4fa7y 18 25 commonality commonality NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 26 or or CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 27 contagion contagion NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 28 phenomenon phenomenon NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 29 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 30 Forbes Forbes NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 31 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 32 Rigobon Rigobon NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 33 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 34 2002 2002 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 35 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 36 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 37 Billio Billio NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 38 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 39 Caporin Caporin NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 40 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 41 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 42 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 43 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 44 Common common JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 45 factors factor NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 46 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 47 standardized standardized JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 48 residuals residual NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 49 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 50 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 51 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 18 52 f f NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 53 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 54 yt yt UH work_7pg23p3x4nd3zknse5pgx4fa7y 18 55 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 56 ζit ζit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 57 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 58 8 8 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 59 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 18 60 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 61 Outline outline NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 62 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 63 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 18 64 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 65 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 66 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 67 Measure measure NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 68 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 69 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 70 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 71 Econometric econometric JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 72 methodology methodology NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 73 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 74 application application NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 75 Causility Causility NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 76 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 77 means mean NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 78 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 79 variances variance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 80 Factor Factor NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 81 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 82 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 83 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 84 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 85 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 86 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 87 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 88 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 18 89 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 90 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 91 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 18 92 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 93 9 9 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 94 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 18 95 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 96 EEX EEX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 97 futures future NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 98 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 99 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 100 spot spot NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 101 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 102 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 103 industrial industrial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 104 indices indice VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 18 105 10 10 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 106 EEX EEX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 107 futures future NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 108 Electricity Electricity NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 109 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 110 Phelix Phelix NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 111 financial financial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 112 futures future NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 113 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 114 M M NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 115 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 116 Q Q NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 117 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 118 Y Y NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 119 maturity maturity NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 120 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 121 Natural natural JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 122 gas gas NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 123 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 124 Gaspool gaspool JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 125 physical physical JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 126 futures future NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 127 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 128 M M NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 129 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 130 Q Q NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 131 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 132 Y Y NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 133 maturity maturity NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 134 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 135 Coal Coal NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 136 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 137 ARA ARA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 138 financial financial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 139 futures future NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 140 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 141 M M NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 142 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 143 Q Q NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 144 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 145 Y Y NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 146 maturity maturity NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 147 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 148 EU EU NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 149 emission emission NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 150 allowances allowance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 151 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 152 EUA EUA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 153 financial financial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 154 futures future NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 155 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 156 Y Y NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 157 maturity maturity NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 158 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 159 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 160 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 161 spot spot NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 162 indices indice VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 18 163 highly highly RB work_7pg23p3x4nd3zknse5pgx4fa7y 18 164 correlated correlate VBD work_7pg23p3x4nd3zknse5pgx4fa7y 18 165 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 166 EEX EEX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 167 futures future NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 168 returns return VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 18 169 Brent Brent NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 170 crude crude JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 171 oil oil NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 172 European european JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 173 coal coal NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 174 EUA eua NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 175 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 176 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 177 industrial industrial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 178 index index NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 179 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 180 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 181 consumers consumer NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 182 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 183 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 184 non non JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 185 - - JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 186 energy energy JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 187 index index NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 188 Market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 189 areas area NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 190 NetConnect NetConnect NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 191 Germany Germany NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 192 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 193 NCG NCG NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 194 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 195 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 196 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 197 Open open VB work_7pg23p3x4nd3zknse5pgx4fa7y 18 198 Grid Grid NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 199 Europe Europe NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 200 GmbH GmbH NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 201 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 202 Bayernets bayernet NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 203 GmbH GmbH NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 204 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 205 Eni Eni NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 206 Gas Gas NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 207 Transport Transport NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 208 Deutschland Deutschland NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 209 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 210 GRTgaz GRTgaz NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 211 Deutschland Deutschland NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 212 GmbH GmbH NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 213 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 214 GVS GVS NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 215 Netz Netz NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 216 GmbH GmbH NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 217 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 218 Thyssengas Thyssengas NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 219 GmbH GmbH NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 220 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 221 planned plan VBN work_7pg23p3x4nd3zknse5pgx4fa7y 18 222 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 223 2nd 2nd JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 224 quarter quarter NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 225 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 226 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 227 GASPOOL gaspool NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 228 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 229 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 230 Gasunie Gasunie NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 231 Deutschland Deutschland NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 232 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 233 Ontras Ontras NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 234 – – : work_7pg23p3x4nd3zknse5pgx4fa7y 18 235 VNG VNG NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 236 Gastransport Gastransport NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 237 GmbH GmbH NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 238 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 239 Wingas Wingas NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 240 Transport Transport NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 241 GmbH GmbH NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 242 & & CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 243 Co. Co. NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 244 KG KG NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 245 Title Title NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 246 Transfer Transfer NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 247 Facility Facility NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 248 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 249 TTF TTF NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 250 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 251 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 18 252 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 253 planned plan VBN work_7pg23p3x4nd3zknse5pgx4fa7y 18 254 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 255 1st 1st JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 256 quarter quarter NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 257 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 258 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 259 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 18 260 Gas Gas NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 261 Transport Transport NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 262 Services Services NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 263 B. B. NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 264 V. V. NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 265 Active active JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 266 trading trading NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 267 participants participant NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 268 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 269 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 18 270 EEX EEX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 271 Natural Natural NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 272 Gas Gas NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 273 Market Market NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 274 22 22 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 275 c c NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 276 o o NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 277 n n CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 278 n n CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 279 e e NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 280 c c NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 281 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 282 i i NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 283 n n CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 284 g g NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 285 m m NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 286 a a NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 287 r r NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 288 k k NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 289 e e NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 290 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 291 s s NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 292 Natur Natur NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 293 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 294 Ga Ga NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 295 s s NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 296 M M NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 297 ar ar NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 298 ke ke NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 299 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 300 A A NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 301 r r NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 302 ea ea NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 303 s s NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 304 EEX EEX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 305 offers offer VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 18 306 trading trading NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 307 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 308 natural natural JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 309 gas gas NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 310 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 311 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 18 312 Spot Spot NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 313 Market Market NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 314 for for IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 315 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 18 316 NetConnect NetConnect NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 317 Germany Germany NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 318 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 18 319 GASPOOL GASPOOL NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 320 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 18 321 TTF TTF NNP work_7pg23p3x4nd3zknse5pgx4fa7y 18 322 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 323 planned plan VBN work_7pg23p3x4nd3zknse5pgx4fa7y 18 324 for for IN work_7pg23p3x4nd3zknse5pgx4fa7y 18 325 1st 1st JJ work_7pg23p3x4nd3zknse5pgx4fa7y 18 326 quarter quarter NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 327 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 18 328 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 18 329 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 18 330 areas area NNS work_7pg23p3x4nd3zknse5pgx4fa7y 18 331 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 19 1 On on IN work_7pg23p3x4nd3zknse5pgx4fa7y 19 2 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 19 3 Derivatives Derivatives NNP work_7pg23p3x4nd3zknse5pgx4fa7y 19 4 Market Market NNP work_7pg23p3x4nd3zknse5pgx4fa7y 19 5 gas gas NN work_7pg23p3x4nd3zknse5pgx4fa7y 19 6 trading trading NN work_7pg23p3x4nd3zknse5pgx4fa7y 19 7 transactions transaction NNS work_7pg23p3x4nd3zknse5pgx4fa7y 19 8 can can MD work_7pg23p3x4nd3zknse5pgx4fa7y 19 9 be be VB work_7pg23p3x4nd3zknse5pgx4fa7y 19 10 concluded conclude VBN work_7pg23p3x4nd3zknse5pgx4fa7y 19 11 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 19 12 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 19 13 NCG NCG NNP work_7pg23p3x4nd3zknse5pgx4fa7y 19 14 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 19 15 GASPOOL GASPOOL NNP work_7pg23p3x4nd3zknse5pgx4fa7y 19 16 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 19 17 areas area NNS work_7pg23p3x4nd3zknse5pgx4fa7y 19 18 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 20 1 Spot spot NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 2 Market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 3 Derivatives derivative VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 20 4 Market Market NNP work_7pg23p3x4nd3zknse5pgx4fa7y 20 5 Tr Tr NNP work_7pg23p3x4nd3zknse5pgx4fa7y 20 6 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 7 din din NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 8 g g NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 9 P p NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 10 ar ar IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 11 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 20 12 ic ic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 20 13 ip ip NNP work_7pg23p3x4nd3zknse5pgx4fa7y 20 14 ant ant NNP work_7pg23p3x4nd3zknse5pgx4fa7y 20 15 s s NNP work_7pg23p3x4nd3zknse5pgx4fa7y 20 16 EEX EEX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 20 17 has have VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 20 18 been be VBN work_7pg23p3x4nd3zknse5pgx4fa7y 20 19 recording record VBG work_7pg23p3x4nd3zknse5pgx4fa7y 20 20 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 21 continued continue VBN work_7pg23p3x4nd3zknse5pgx4fa7y 20 22 positive positive JJ work_7pg23p3x4nd3zknse5pgx4fa7y 20 23 trend trend NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 24 as as IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 25 regards regard VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 20 26 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 27 number number NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 28 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 29 trading trading NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 30 participants participant NNS work_7pg23p3x4nd3zknse5pgx4fa7y 20 31 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 20 32 At at IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 33 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 34 end end NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 35 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 36 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 37 year year NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 38 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 20 39 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 40 number number NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 41 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 42 trading trading NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 43 participants participant NNS work_7pg23p3x4nd3zknse5pgx4fa7y 20 44 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 45 gas gas NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 46 trading trading NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 47 had have VBD work_7pg23p3x4nd3zknse5pgx4fa7y 20 48 increased increase VBN work_7pg23p3x4nd3zknse5pgx4fa7y 20 49 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 50 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 51 total total NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 52 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 53 97 97 CD work_7pg23p3x4nd3zknse5pgx4fa7y 20 54 comparing comparing NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 55 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 56 76 76 CD work_7pg23p3x4nd3zknse5pgx4fa7y 20 57 companies company NNS work_7pg23p3x4nd3zknse5pgx4fa7y 20 58 at at IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 59 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 60 beginning beginning NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 61 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 20 62 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 20 63 year year NN work_7pg23p3x4nd3zknse5pgx4fa7y 20 64 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 21 1 Thus thus RB work_7pg23p3x4nd3zknse5pgx4fa7y 21 2 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 21 3 EEX EEX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 21 4 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 21 5 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 21 6 gas gas NN work_7pg23p3x4nd3zknse5pgx4fa7y 21 7 exchange exchange NN work_7pg23p3x4nd3zknse5pgx4fa7y 21 8 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 21 9 Continental Continental NNP work_7pg23p3x4nd3zknse5pgx4fa7y 21 10 Europe Europe NNP work_7pg23p3x4nd3zknse5pgx4fa7y 21 11 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 21 12 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 21 13 highest high JJS work_7pg23p3x4nd3zknse5pgx4fa7y 21 14 number number NN work_7pg23p3x4nd3zknse5pgx4fa7y 21 15 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 21 16 trading trading NN work_7pg23p3x4nd3zknse5pgx4fa7y 21 17 participants participant NNS work_7pg23p3x4nd3zknse5pgx4fa7y 21 18 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 22 1 60 60 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 2 50 50 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 3 40 40 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 4 30 30 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 5 20 20 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 6 10 10 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 7 0 0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 8 1/2010 1/2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 9 2/2010 2/2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 10 3/2010 3/2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 11 4/2010 4/2010 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 12 36 36 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 13 39 39 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 14 46 46 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 15 48 48 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 16 26 26 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 17 26 26 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 18 27 27 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 19 22 22 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 20 Source source NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 21 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 22 22 EEX EEX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 23 10 10 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 24 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 22 25 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 26 Outline Outline NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 27 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 28 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 22 29 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 30 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 31 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 32 Measure measure NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 33 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 22 34 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 35 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 36 Econometric econometric JJ work_7pg23p3x4nd3zknse5pgx4fa7y 22 37 methodology methodology NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 38 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 39 application application NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 40 Causility Causility NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 41 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 42 means mean NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 43 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 44 variances variance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 45 Factor Factor NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 46 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 47 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 48 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 49 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 50 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 51 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 52 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 53 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 22 54 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 55 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 56 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 22 57 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 58 11 11 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 59 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 22 60 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 22 61 Cointegration Cointegration NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 62 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 63 Granger Granger NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 64 - - HYPH work_7pg23p3x4nd3zknse5pgx4fa7y 22 65 causality causality NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 66 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 67 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 22 68 mean mean NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 69 Augmented Augmented NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 70 Vector Vector NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 71 Error Error NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 72 Correction Correction NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 73 Model Model NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 74 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 75 VECM VECM NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 76 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 77 for for IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 78 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 22 79 joint joint JJ work_7pg23p3x4nd3zknse5pgx4fa7y 22 80 mean mean NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 81 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 82 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 22 83 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 84 n n NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 85 ×T ×T NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 86 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 87 matrix matrix NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 88 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 89 returns return NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 90 rt rt VBP work_7pg23p3x4nd3zknse5pgx4fa7y 22 91 capturing capture VBG work_7pg23p3x4nd3zknse5pgx4fa7y 22 92 cointegration cointegration NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 93 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 22 94 autocorrelation autocorrelation NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 95 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 22 96 causality causality NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 97 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 22 98 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 99 seasonality seasonality NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 100 rit rit VBP work_7pg23p3x4nd3zknse5pgx4fa7y 22 101 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 22 102 πi πi JJ work_7pg23p3x4nd3zknse5pgx4fa7y 22 103 η η NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 104 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 105 ln(pt−1 ln(pt−1 XX work_7pg23p3x4nd3zknse5pgx4fa7y 22 106 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 107 + + NFP work_7pg23p3x4nd3zknse5pgx4fa7y 22 108 K K NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 109 ∑ ∑ XX work_7pg23p3x4nd3zknse5pgx4fa7y 22 110 k=1 k=1 NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 111 δ δ NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 112 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 113 ik ik NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 114 rt−k rt−k NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 115 + + NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 116 M m NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 117 ∑ ∑ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 118 m=1 m=1 NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 119 θ θ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 120 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 121 imxt−m imxt−m NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 122 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 123 ϕ ϕ NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 124 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 125 i i PRP work_7pg23p3x4nd3zknse5pgx4fa7y 22 126 qt qt VBP work_7pg23p3x4nd3zknse5pgx4fa7y 22 127 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 128 εit εit UH work_7pg23p3x4nd3zknse5pgx4fa7y 22 129 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 22 130 η η PRP work_7pg23p3x4nd3zknse5pgx4fa7y 22 131 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 22 132 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 22 133 cointegrating cointegrate VBG work_7pg23p3x4nd3zknse5pgx4fa7y 22 134 vectors vector NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 135 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 22 136 πi πi PRP work_7pg23p3x4nd3zknse5pgx4fa7y 22 137 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 22 138 error error NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 139 - - HYPH work_7pg23p3x4nd3zknse5pgx4fa7y 22 140 correction correction NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 141 parameters parameter NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 142 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 22 143 δik δik NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 144 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 22 145 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 22 146 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 147 n n NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 148 ×1 ×1 NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 149 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 150 vector vector NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 151 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 152 autocorrelation autocorrelation NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 153 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 154 Granger Granger NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 155 - - HYPH work_7pg23p3x4nd3zknse5pgx4fa7y 22 156 causal causal NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 157 parameters parameter NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 158 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 159 order order NN work_7pg23p3x4nd3zknse5pgx4fa7y 22 160 k k NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 161 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 22 162 xt−m xt−m NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 163 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 22 164 exogenous exogenous JJ work_7pg23p3x4nd3zknse5pgx4fa7y 22 165 variables variable NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 166 lagged lag VBN work_7pg23p3x4nd3zknse5pgx4fa7y 22 167 by by IN work_7pg23p3x4nd3zknse5pgx4fa7y 22 168 m m NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 169 days day NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 170 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 22 171 qt qt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 22 172 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 22 173 deterministic deterministic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 22 174 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 175 seasonal seasonal JJ work_7pg23p3x4nd3zknse5pgx4fa7y 22 176 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 22 177 factors factor NNS work_7pg23p3x4nd3zknse5pgx4fa7y 22 178 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 23 1 Similar similar JJ work_7pg23p3x4nd3zknse5pgx4fa7y 23 2 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 23 3 Bunn Bunn NNP work_7pg23p3x4nd3zknse5pgx4fa7y 23 4 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 23 5 Fezzi Fezzi NNP work_7pg23p3x4nd3zknse5pgx4fa7y 23 6 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 23 7 2008 2008 CD work_7pg23p3x4nd3zknse5pgx4fa7y 23 8 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 23 9 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 23 10 except except IN work_7pg23p3x4nd3zknse5pgx4fa7y 23 11 that that IN work_7pg23p3x4nd3zknse5pgx4fa7y 23 12 all all DT work_7pg23p3x4nd3zknse5pgx4fa7y 23 13 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 23 14 products product NNS work_7pg23p3x4nd3zknse5pgx4fa7y 23 15 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 23 16 here here RB work_7pg23p3x4nd3zknse5pgx4fa7y 23 17 considered consider VBN work_7pg23p3x4nd3zknse5pgx4fa7y 23 18 to to TO work_7pg23p3x4nd3zknse5pgx4fa7y 23 19 be be VB work_7pg23p3x4nd3zknse5pgx4fa7y 23 20 endogenous endogenous JJ work_7pg23p3x4nd3zknse5pgx4fa7y 23 21 variables variable NNS work_7pg23p3x4nd3zknse5pgx4fa7y 23 22 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 23 23 as as IN work_7pg23p3x4nd3zknse5pgx4fa7y 23 24 part part NN work_7pg23p3x4nd3zknse5pgx4fa7y 23 25 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 23 26 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 23 27 ’ ' '' work_7pg23p3x4nd3zknse5pgx4fa7y 23 28 system system NN work_7pg23p3x4nd3zknse5pgx4fa7y 23 29 ’ ' '' work_7pg23p3x4nd3zknse5pgx4fa7y 23 30 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 23 31 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 24 1 12 12 CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 2 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 24 3 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 4 Multiplicative Multiplicative NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 5 Causality Causality NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 6 GARCH garch NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 7 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 8 Multiplicative Multiplicative NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 9 Causality Causality NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 10 GARCH GARCH NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 11 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 12 for for IN work_7pg23p3x4nd3zknse5pgx4fa7y 24 13 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 24 14 variance variance NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 15 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 24 16 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 24 17 GARCH garch NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 18 component component NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 19 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 24 20 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 24 21 interaction interaction NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 22 component component NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 23 εit εit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 24 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 24 25 σit σit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 26 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 27 = = -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 28 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 29 φit φit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 30 git git NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 31 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 32 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 24 33 git git NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 34 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 24 35 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 36 1−αii 1−αii CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 37 −βi −βi CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 38 − − NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 39 γii γii CC work_7pg23p3x4nd3zknse5pgx4fa7y 24 40 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 41 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 42 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 24 43 αii αii VB work_7pg23p3x4nd3zknse5pgx4fa7y 24 44 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 45 ε ε LS work_7pg23p3x4nd3zknse5pgx4fa7y 24 46 2it−1 2it−1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 47 φit−1 φit−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 48 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 49 + + SYM work_7pg23p3x4nd3zknse5pgx4fa7y 24 50 βi βi IN work_7pg23p3x4nd3zknse5pgx4fa7y 24 51 git−1 git−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 52 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 24 53 γii γii IN work_7pg23p3x4nd3zknse5pgx4fa7y 24 54 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 55 ε ε DT work_7pg23p3x4nd3zknse5pgx4fa7y 24 56 2it−1 2it−1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 57 φit−1 φit−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 58 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 59 I{εit−1<0 i{εit−1<0 NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 60 } } -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 61 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 24 62 φit φit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 63 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 24 64 f f NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 65 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 66 u1t−1 u1t−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 67 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 24 68 ... ... NFP work_7pg23p3x4nd3zknse5pgx4fa7y 24 69 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 24 70 ui−1,t−1 ui−1,t−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 71 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 24 72 ui+1,t−1 ui+1,t−1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 73 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 24 74 ... ... NFP work_7pg23p3x4nd3zknse5pgx4fa7y 24 75 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 24 76 unt−1 unt−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 77 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 78 li li NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 79 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 80 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 81 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 82 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 24 83 I{εit−1<0 i{εit−1<0 LS work_7pg23p3x4nd3zknse5pgx4fa7y 24 84 } } -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 85 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 24 86 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 24 87 dummy dummy JJ work_7pg23p3x4nd3zknse5pgx4fa7y 24 88 variable variable NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 89 equal equal JJ work_7pg23p3x4nd3zknse5pgx4fa7y 24 90 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 24 91 one one CD work_7pg23p3x4nd3zknse5pgx4fa7y 24 92 when when WRB work_7pg23p3x4nd3zknse5pgx4fa7y 24 93 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 24 94 past past JJ work_7pg23p3x4nd3zknse5pgx4fa7y 24 95 shock shock NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 96 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 24 97 asset asset NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 98 i i PRP work_7pg23p3x4nd3zknse5pgx4fa7y 24 99 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 24 100 negative negative JJ work_7pg23p3x4nd3zknse5pgx4fa7y 24 101 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 24 102 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 24 103 li li NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 104 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 105 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 24 106 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 24 107 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 24 108 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 24 109 deterministic deterministic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 24 110 function function NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 111 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 24 112 time time NN work_7pg23p3x4nd3zknse5pgx4fa7y 24 113 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 25 1 In in IN work_7pg23p3x4nd3zknse5pgx4fa7y 25 2 this this DT work_7pg23p3x4nd3zknse5pgx4fa7y 25 3 application application NN work_7pg23p3x4nd3zknse5pgx4fa7y 25 4 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 25 5 φit φit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 6 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 25 7 ci ci NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 8 exp exp NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 9 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 10 n n CC work_7pg23p3x4nd3zknse5pgx4fa7y 25 11 ∑ ∑ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 12 j=1,j j=1,j NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 13 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 14 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 25 15 i i PRP work_7pg23p3x4nd3zknse5pgx4fa7y 25 16 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 25 17 ϑij ϑij UH work_7pg23p3x4nd3zknse5pgx4fa7y 25 18 ujt−1 ujt−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 19 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 25 20 αij αij NN work_7pg23p3x4nd3zknse5pgx4fa7y 25 21 |ujt−1| |ujt−1| NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 22 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 25 23 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 25 24 κ κ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 25 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 26 i i PRP work_7pg23p3x4nd3zknse5pgx4fa7y 25 27 dt dt VBP work_7pg23p3x4nd3zknse5pgx4fa7y 25 28 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 29 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 25 30 dt dt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 25 31 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 25 32 deterministic deterministic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 25 33 terms term NNS work_7pg23p3x4nd3zknse5pgx4fa7y 25 34 including include VBG work_7pg23p3x4nd3zknse5pgx4fa7y 25 35 seasonal seasonal JJ work_7pg23p3x4nd3zknse5pgx4fa7y 25 36 dummies dummy NNS work_7pg23p3x4nd3zknse5pgx4fa7y 25 37 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 26 1 13 13 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 2 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 26 3 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 4 Networks Networks NNPS work_7pg23p3x4nd3zknse5pgx4fa7y 26 5 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 6 Causal Causal NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 7 Relationships Relationships NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 8 Causal Causal NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 9 relationships relationship NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 10 reflect reflect VBP work_7pg23p3x4nd3zknse5pgx4fa7y 26 11 physical physical JJ work_7pg23p3x4nd3zknse5pgx4fa7y 26 12 relationships relationship NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 13 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 14 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 15 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 16 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 17 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 26 18 subsitution subsitution NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 19 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 26 20 merit merit NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 21 - - HYPH work_7pg23p3x4nd3zknse5pgx4fa7y 26 22 order order NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 23 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 26 24 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 26 25 spillover spillover NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 26 effects effect NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 27 Mean Mean NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 28 Network Network NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 29 Variance Variance NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 30 Network Network NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 31 14 14 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 32 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 26 33 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 34 Outline Outline NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 35 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 36 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 37 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 38 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 39 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 40 Measure measure NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 41 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 26 42 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 43 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 44 Econometric econometric JJ work_7pg23p3x4nd3zknse5pgx4fa7y 26 45 methodology methodology NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 46 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 26 47 application application NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 48 Causility Causility NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 49 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 50 means mean NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 51 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 26 52 variances variance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 53 Factor Factor NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 54 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 55 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 26 56 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 57 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 58 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 59 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 60 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 26 61 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 62 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 63 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 64 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 65 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 66 15 15 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 67 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 26 68 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 26 69 Factor Factor NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 70 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 71 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 26 72 Dynamic dynamic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 26 73 PCA PCA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 74 Dynamic Dynamic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 75 PCA PCA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 76 based base VBN work_7pg23p3x4nd3zknse5pgx4fa7y 26 77 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 78 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 79 daily daily JJ work_7pg23p3x4nd3zknse5pgx4fa7y 26 80 correlation correlation NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 81 matrices matrix NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 82 estimated estimate VBN work_7pg23p3x4nd3zknse5pgx4fa7y 26 83 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 84 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 85 Dynamic Dynamic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 86 Conditional Conditional NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 87 Correlation Correlation NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 88 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 26 89 DCC DCC NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 90 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 26 91 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 92 Ht Ht NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 93 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 26 94 Dt Dt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 95 Rt Rt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 96 Dt Dt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 97 = = CC work_7pg23p3x4nd3zknse5pgx4fa7y 26 98 Dt Dt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 99 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 100 At at IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 101 Λt Λt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 102 A A NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 103 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 104 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 105 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 26 106 Rζt Rζt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 107 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 108 Dt Dt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 109 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 26 110 Dt Dt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 111 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 26 112 diag(σ1 diag(σ1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 113 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 114 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 26 115 ... ... NFP work_7pg23p3x4nd3zknse5pgx4fa7y 26 116 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 26 117 σnt σnt NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 118 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 26 119 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 26 120 At at IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 121 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 26 122 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 123 matrix matrix NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 124 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 125 s s NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 126 eigenvectors eigenvector NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 127 associated associate VBN work_7pg23p3x4nd3zknse5pgx4fa7y 26 128 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 129 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 130 s s NNPS work_7pg23p3x4nd3zknse5pgx4fa7y 26 131 largest large JJS work_7pg23p3x4nd3zknse5pgx4fa7y 26 132 eigenvalues eigenvalue NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 133 that that WDT work_7pg23p3x4nd3zknse5pgx4fa7y 26 134 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 26 135 contained contain VBN work_7pg23p3x4nd3zknse5pgx4fa7y 26 136 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 137 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 138 diagonal diagonal JJ work_7pg23p3x4nd3zknse5pgx4fa7y 26 139 matrix matrix NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 140 Λt Λt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 141 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 26 142 diag(λ1 diag(λ1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 143 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 144 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 26 145 λ2 λ2 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 146 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 147 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 26 148 ... ... NFP work_7pg23p3x4nd3zknse5pgx4fa7y 26 149 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 26 150 λst λst NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 151 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 26 152 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 153 λ1 λ1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 154 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 155 ≥ ≥ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 156 λ2 λ2 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 157 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 158 ≥ ≥ UH work_7pg23p3x4nd3zknse5pgx4fa7y 26 159 ... ... : work_7pg23p3x4nd3zknse5pgx4fa7y 26 160 ≥ ≥ UH work_7pg23p3x4nd3zknse5pgx4fa7y 26 161 λst λst NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 162 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 26 163 s s NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 164 ≤ ≤ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 165 n n NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 166 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 26 167 Rζt Rζt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 168 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 26 169 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 26 170 correlation correlation NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 171 matrix matrix NN work_7pg23p3x4nd3zknse5pgx4fa7y 26 172 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 26 173 idiosyncratic idiosyncratic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 26 174 terms term NNS work_7pg23p3x4nd3zknse5pgx4fa7y 26 175 ζt ζt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 26 176 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 27 1 Standardized standardized JJ work_7pg23p3x4nd3zknse5pgx4fa7y 27 2 residuals residual NNS work_7pg23p3x4nd3zknse5pgx4fa7y 27 3 uit uit VBP work_7pg23p3x4nd3zknse5pgx4fa7y 27 4 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 27 5 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 27 6 rit rit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 7 − − NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 8 µit µit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 9 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 27 10 /σit /σit NFP work_7pg23p3x4nd3zknse5pgx4fa7y 27 11 becomes become VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 27 12 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 27 13 function function NN work_7pg23p3x4nd3zknse5pgx4fa7y 27 14 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 27 15 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 27 16 first first JJ work_7pg23p3x4nd3zknse5pgx4fa7y 27 17 s s NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 18 dynamic dynamic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 27 19 principal principal JJ work_7pg23p3x4nd3zknse5pgx4fa7y 27 20 components component NNS work_7pg23p3x4nd3zknse5pgx4fa7y 27 21 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 27 22 idiosyncratic idiosyncratic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 27 23 terms term NNS work_7pg23p3x4nd3zknse5pgx4fa7y 27 24 uit uit VBP work_7pg23p3x4nd3zknse5pgx4fa7y 27 25 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 27 26 s s NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 27 ∑ ∑ . work_7pg23p3x4nd3zknse5pgx4fa7y 27 28 j=1 j=1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 29 aijt aijt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 30 yjt yjt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 31 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 27 32 ζit ζit NN work_7pg23p3x4nd3zknse5pgx4fa7y 27 33 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 27 34 aijt aijt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 35 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 27 36 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 27 37 element element NN work_7pg23p3x4nd3zknse5pgx4fa7y 27 38 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 27 39 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 27 40 eigenvector eigenvector NN work_7pg23p3x4nd3zknse5pgx4fa7y 27 41 associated associate VBN work_7pg23p3x4nd3zknse5pgx4fa7y 27 42 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 27 43 asset asset NN work_7pg23p3x4nd3zknse5pgx4fa7y 27 44 i i NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 45 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 27 46 principal principal NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 47 component component NN work_7pg23p3x4nd3zknse5pgx4fa7y 27 48 yjt yjt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 49 extracted extract VBD work_7pg23p3x4nd3zknse5pgx4fa7y 27 50 from from IN work_7pg23p3x4nd3zknse5pgx4fa7y 27 51 Rt Rt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 52 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 27 53 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 27 54 ζit ζit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 55 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 27 56 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 57 −∑sj=1 −∑sj=1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 58 aijt aijt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 59 yjt yjt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 27 60 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 28 1 16 16 CD work_7pg23p3x4nd3zknse5pgx4fa7y 28 2 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 28 3 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 28 4 Restrictions restriction NNS work_7pg23p3x4nd3zknse5pgx4fa7y 28 5 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 28 6 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 28 7 dynamic dynamic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 28 8 PCA PCA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 9 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 28 10 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 11 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 12 condition condition NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 13 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 28 14 defined define VBN work_7pg23p3x4nd3zknse5pgx4fa7y 28 15 by by IN work_7pg23p3x4nd3zknse5pgx4fa7y 28 16 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 28 17 factors factor NNS work_7pg23p3x4nd3zknse5pgx4fa7y 28 18 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 28 19 Et−1 Et−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 20 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 28 21 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 22 |energy |energy CD work_7pg23p3x4nd3zknse5pgx4fa7y 28 23 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 24 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 28 25 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 28 26 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 28 27 Et−1 et−1 FW work_7pg23p3x4nd3zknse5pgx4fa7y 28 28 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 28 29 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 30 |rEnMt |rEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 31 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 28 32 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 33 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 28 34 rMt rmt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 28 35 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 28 36 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 28 37 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 28 38 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 28 39 return return NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 40 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 28 41 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 28 42 non non JJ work_7pg23p3x4nd3zknse5pgx4fa7y 28 43 - - JJ work_7pg23p3x4nd3zknse5pgx4fa7y 28 44 energy energy JJ work_7pg23p3x4nd3zknse5pgx4fa7y 28 45 sector sector NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 46 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 28 47 rMt rmt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 28 48 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 49 yMt yMt NNS work_7pg23p3x4nd3zknse5pgx4fa7y 28 50 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 28 51 y1 y1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 52 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 53 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 28 54 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 28 55 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 56 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 28 57 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 58 ut ut UH work_7pg23p3x4nd3zknse5pgx4fa7y 28 59 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 28 60 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 61 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 62 return return NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 63 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 28 64 rEnMt rEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 65 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 66 yEnMt yenmt CD work_7pg23p3x4nd3zknse5pgx4fa7y 28 67 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 28 68 y2 y2 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 69 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 70 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 28 71 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 28 72 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 73 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 28 74 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 28 75 ut ut UH work_7pg23p3x4nd3zknse5pgx4fa7y 28 76 Restricted Restricted NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 77 PCA PCA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 78 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 28 79 Ng Ng NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 80 et et FW work_7pg23p3x4nd3zknse5pgx4fa7y 28 81 al al NNP work_7pg23p3x4nd3zknse5pgx4fa7y 28 82 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 29 1 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 29 2 1992 1992 CD work_7pg23p3x4nd3zknse5pgx4fa7y 29 3 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 29 4 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 29 5 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 29 6 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 29 7 1st 1st JJ work_7pg23p3x4nd3zknse5pgx4fa7y 29 8 component component NN work_7pg23p3x4nd3zknse5pgx4fa7y 29 9 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 29 10 restricted restrict VBN work_7pg23p3x4nd3zknse5pgx4fa7y 29 11 to to TO work_7pg23p3x4nd3zknse5pgx4fa7y 29 12 be be VB work_7pg23p3x4nd3zknse5pgx4fa7y 29 13 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 29 14 non non JJ work_7pg23p3x4nd3zknse5pgx4fa7y 29 15 - - JJ work_7pg23p3x4nd3zknse5pgx4fa7y 29 16 energy energy JJ work_7pg23p3x4nd3zknse5pgx4fa7y 29 17 return return NN work_7pg23p3x4nd3zknse5pgx4fa7y 29 18 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 29 19 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 29 20 industrial industrial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 29 21 index index NN work_7pg23p3x4nd3zknse5pgx4fa7y 29 22 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 29 23 maxa1 maxa1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 29 24 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 29 25 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 29 26 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 29 27 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 29 28 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 29 29 Rt Rt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 29 30 a1 a1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 29 31 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 29 32 s.t s.t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 29 33 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 30 1 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 30 2 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 3 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 30 4 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 5 a1 a1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 6 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 7 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 30 8 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 30 9 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 30 10 ai1 ai1 NNS work_7pg23p3x4nd3zknse5pgx4fa7y 30 11 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 12 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 30 13 0 0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 30 14 ∀t,∀i ∀t,∀i NNPS work_7pg23p3x4nd3zknse5pgx4fa7y 30 15 � � NNS work_7pg23p3x4nd3zknse5pgx4fa7y 30 16 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 30 17 DAX dax NN work_7pg23p3x4nd3zknse5pgx4fa7y 30 18 industrial industrial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 30 19 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 30 20 other other JJ work_7pg23p3x4nd3zknse5pgx4fa7y 30 21 dynamic dynamic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 30 22 components component NNS work_7pg23p3x4nd3zknse5pgx4fa7y 30 23 are be VBP work_7pg23p3x4nd3zknse5pgx4fa7y 30 24 mutually mutually RB work_7pg23p3x4nd3zknse5pgx4fa7y 30 25 orthogonal orthogonal JJ work_7pg23p3x4nd3zknse5pgx4fa7y 30 26 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 30 27 orthogonal orthogonal JJ work_7pg23p3x4nd3zknse5pgx4fa7y 30 28 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 30 29 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 30 30 industrial industrial JJ work_7pg23p3x4nd3zknse5pgx4fa7y 30 31 component component NN work_7pg23p3x4nd3zknse5pgx4fa7y 30 32 maxajt maxajt JJ work_7pg23p3x4nd3zknse5pgx4fa7y 30 33 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 30 34 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 35 jt jt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 36 Rt Rt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 37 ajt ajt NN work_7pg23p3x4nd3zknse5pgx4fa7y 30 38 s.t s.t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 30 39 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 31 1 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 2 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 3 jt jt PRP work_7pg23p3x4nd3zknse5pgx4fa7y 31 4 ajt ajt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 5 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 31 6 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 31 7 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 31 8 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 9 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 10 jt jt PRP work_7pg23p3x4nd3zknse5pgx4fa7y 31 11 alt alt NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 12 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 31 13 0 0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 31 14 ∀t,∀l ∀t,∀l NNPS work_7pg23p3x4nd3zknse5pgx4fa7y 31 15 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 16 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 31 17 j j NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 18 17 17 CD work_7pg23p3x4nd3zknse5pgx4fa7y 31 19 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 31 20 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 31 21 Tail Tail NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 22 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 31 23 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 24 non non JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 25 - - JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 26 energy energy JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 27 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 28 return return NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 29 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 31 30 rMt rmt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 31 31 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 32 yMt yMt NNS work_7pg23p3x4nd3zknse5pgx4fa7y 31 33 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 31 34 y1 y1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 35 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 36 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 31 37 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 38 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 39 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 31 40 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 41 ut ut NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 42 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 43 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 44 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 45 return return NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 46 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 31 47 rEnMt rEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 48 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 49 yEnMt yenmt CD work_7pg23p3x4nd3zknse5pgx4fa7y 31 50 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 31 51 y2 y2 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 52 t t NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 53 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 31 54 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 55 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 56 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 31 57 t t NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 58 ut ut UH work_7pg23p3x4nd3zknse5pgx4fa7y 31 59 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 60 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 61 expectation expectation NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 62 Et−1 Et−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 63 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 64 uit uit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 65 |energy |energy CD work_7pg23p3x4nd3zknse5pgx4fa7y 31 66 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 67 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 68 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 31 69 approximated approximate VBN work_7pg23p3x4nd3zknse5pgx4fa7y 31 70 by by IN work_7pg23p3x4nd3zknse5pgx4fa7y 31 71 s s NNS work_7pg23p3x4nd3zknse5pgx4fa7y 31 72 ∑ ∑ NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 73 j=1 j=1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 74 [ [ -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 75 aijt aijt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 76 Et−1 Et−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 77 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 78 yjt yjt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 79 |yEnMt |yEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 80 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 31 81 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 82 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 31 83 yMt ymt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 31 84 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 31 85 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 31 86 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 87 ] ] -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 88 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 31 89 Et−1 et−1 NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 90 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 91 ζit ζit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 92 |yEnMt |yEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 93 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 31 94 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 95 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 31 96 yMt ymt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 31 97 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 31 98 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 31 99 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 100 A a DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 101 nonparametric nonparametric JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 102 estimator estimator NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 103 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 31 104 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 105 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 31 106 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 31 107 Ê ê JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 108 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 109 yjt yjt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 110 |yEnMt |yEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 111 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 31 112 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 113 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 31 114 yMt ymt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 31 115 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 31 116 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 31 117 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 118 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 31 119 ∑Tτ=1 ∑Tτ=1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 120 yjτ yjτ NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 121 Φ φ NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 122 � � NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 123 � � , work_7pg23p3x4nd3zknse5pgx4fa7y 31 124 yEnMτ√ yEnMτ√ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 125 λEnMτ λEnMτ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 126 − − NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 127 C√ c√ JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 128 λEnMt λEnMt NNPS work_7pg23p3x4nd3zknse5pgx4fa7y 31 129 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 130 h h LS work_7pg23p3x4nd3zknse5pgx4fa7y 31 131 −1 −1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 132 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 133 I -PRON- PRP work_7pg23p3x4nd3zknse5pgx4fa7y 31 134 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 135 yMτ yMτ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 136 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 31 137 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 31 138 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 139 ∑Tτ=1 ∑Tτ=1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 140 Φ Φ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 141 � � NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 142 � � , work_7pg23p3x4nd3zknse5pgx4fa7y 31 143 yEnMτ√ yEnMτ√ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 144 λEnMτ λEnMτ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 145 − − NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 146 C√ c√ JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 147 λEnMt λEnMt NNPS work_7pg23p3x4nd3zknse5pgx4fa7y 31 148 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 149 h−1 h−1 PRP work_7pg23p3x4nd3zknse5pgx4fa7y 31 150 � � , work_7pg23p3x4nd3zknse5pgx4fa7y 31 151 I -PRON- PRP work_7pg23p3x4nd3zknse5pgx4fa7y 31 152 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 153 yMτ yMτ NNP work_7pg23p3x4nd3zknse5pgx4fa7y 31 154 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 31 155 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 31 156 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 157 where where WRB work_7pg23p3x4nd3zknse5pgx4fa7y 31 158 Φ φ NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 159 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 160 · · NFP work_7pg23p3x4nd3zknse5pgx4fa7y 31 161 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 31 162 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 31 163 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 31 164 Gaussian gaussian JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 165 cummulative cummulative JJ work_7pg23p3x4nd3zknse5pgx4fa7y 31 166 distribution distribution NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 167 function function NN work_7pg23p3x4nd3zknse5pgx4fa7y 31 168 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 32 1 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 32 2 same same JJ work_7pg23p3x4nd3zknse5pgx4fa7y 32 3 estimation estimation NN work_7pg23p3x4nd3zknse5pgx4fa7y 32 4 procedure procedure NN work_7pg23p3x4nd3zknse5pgx4fa7y 32 5 applies apply VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 32 6 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 32 7 E e NN work_7pg23p3x4nd3zknse5pgx4fa7y 32 8 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 32 9 ζit ζit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 32 10 |yEnMt |yEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 32 11 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 32 12 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 32 13 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 32 14 yMt ymt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 32 15 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 32 16 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 32 17 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 32 18 . . . work_7pg23p3x4nd3zknse5pgx4fa7y 33 1 18 18 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 2 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 3 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 4 Outline outline NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 5 1 1 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 6 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 7 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 8 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 9 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 10 Measure measure NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 11 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 33 12 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 13 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 14 Econometric econometric JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 15 methodology methodology NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 16 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 17 application application NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 18 Causility Causility NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 19 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 20 means mean NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 21 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 22 variances variance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 23 Factor Factor NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 24 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 25 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 26 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 27 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 28 3 3 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 29 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 30 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 31 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 32 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 33 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 34 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 35 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 36 19 19 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 37 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 38 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 39 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 40 conditional conditional JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 41 MES mes NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 42 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 43 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 44 assets asset NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 45 MESit MESit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 46 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 47 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 48 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 49 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 33 50 µit µit NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 51 + + SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 52 σit σit VB work_7pg23p3x4nd3zknse5pgx4fa7y 33 53 Et−1 Et−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 54 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 55 s s NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 56 ∑ ∑ XX work_7pg23p3x4nd3zknse5pgx4fa7y 33 57 j=1 j=1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 58 aijt aijt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 59 yjt yjt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 60 + + NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 61 ζit ζit NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 62 |yEnMt |yEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 63 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 33 64 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 65 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 33 66 yMt ymt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 33 67 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 33 68 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 33 69 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 70 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 71 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 72 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 73 2.5 2.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 74 5.0 5.0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 75 7.5 7.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 76 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 77 Electricity Electricity NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 78 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 79 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 80 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 81 2.5 2.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 82 5.0 5.0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 83 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 84 Natural Natural NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 85 Gas Gas NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 86 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 87 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 88 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 89 2.5 2.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 90 5.0 5.0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 91 7.5 7.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 92 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 93 Coal Coal NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 94 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 95 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 96 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 97 2.5 2.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 98 5.0 5.0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 99 7.5 7.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 100 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 101 Carbon carbon NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 102 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 103 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 104 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 105 0.0 0.0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 106 2.5 2.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 107 5.0 5.0 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 108 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 109 Brent Brent NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 110 20 20 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 111 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 112 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 113 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 114 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 115 = = SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 116 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 117 total total JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 118 cost cost NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 119 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 120 million million CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 121 euros euro NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 122 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 123 each each DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 124 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 125 commodity commodity NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 126 class class NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 127 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 128 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 129 German german JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 130 non non JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 131 - - JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 132 energy energy JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 133 sector sector NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 134 during during IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 135 a a DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 136 potential potential JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 137 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 138 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 139 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 140 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 141 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 142 75 75 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 143 100 100 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 144 125 125 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 145 150 150 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 146 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 147 Electricity Electricity NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 148 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 149 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 150 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 151 20 20 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 152 40 40 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 153 60 60 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 154 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 155 Natural Natural NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 156 Gas Gas NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 157 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 158 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 159 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 160 2 2 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 161 4 4 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 162 6 6 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 163 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 164 Coal Coal NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 165 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 166 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 167 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 168 10 10 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 169 15 15 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 170 20 20 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 171 25 25 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 172 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 173 Carbon Carbon NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 174 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 175 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 176 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 177 50 50 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 178 100 100 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 179 150 150 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 180 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 181 Brent Brent NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 182 21 21 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 183 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 184 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 185 ’ ' '' work_7pg23p3x4nd3zknse5pgx4fa7y 33 186 Net net NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 187 ’ ' '' work_7pg23p3x4nd3zknse5pgx4fa7y 33 188 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 189 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 190 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 191 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 192 MESMt MESMt NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 193 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 194 C c NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 195 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 196 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 33 197 µMt µMt NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 198 + + SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 199 σMt σmt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 33 200 Et−1 Et−1 NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 201 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 202 ∑sj=1 ∑sj=1 NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 203 aMjt aMjt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 204 yjt yjt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 205 + + CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 206 ζMt ζMt NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 207 |yEnMt |yEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 208 > > XX work_7pg23p3x4nd3zknse5pgx4fa7y 33 209 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 210 , , , work_7pg23p3x4nd3zknse5pgx4fa7y 33 211 yMt ymt ADD work_7pg23p3x4nd3zknse5pgx4fa7y 33 212 < < XX work_7pg23p3x4nd3zknse5pgx4fa7y 33 213 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 33 214 � � NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 215 ’ ' '' work_7pg23p3x4nd3zknse5pgx4fa7y 33 216 Net net JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 217 ’ ' '' work_7pg23p3x4nd3zknse5pgx4fa7y 33 218 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 219 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 220 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 221 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 222 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 223 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 33 224 ∆MESMt ∆MESMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 225 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 226 C C NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 227 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 228 = = NFP work_7pg23p3x4nd3zknse5pgx4fa7y 33 229 MESMt MESMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 230 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 231 C c NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 232 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 233 −MESMt −MESMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 234 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 235 VaR(rEnMt VaR(rEnMt NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 236 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 237 0.5 0.5 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 238 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 239 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 240 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 241 .95 .95 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 242 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 243 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 244 .5 .5 NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 245 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 246 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 247 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 248 -4 -4 : work_7pg23p3x4nd3zknse5pgx4fa7y 33 249 -2 -2 . work_7pg23p3x4nd3zknse5pgx4fa7y 33 250 0 0 NFP work_7pg23p3x4nd3zknse5pgx4fa7y 33 251 MES mes NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 252 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 253 .95 .95 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 254 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 255 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 256 .5 .5 NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 257 DeltaMES deltames IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 258 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 259 2009 2009 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 260 2010 2010 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 261 2011 2011 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 262 -0.75 -0.75 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 263 -0.50 -0.50 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 264 -0.25 -0.25 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 265 0.00 0.00 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 266 DeltaMES deltames NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 267 DAX DAX NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 268 22 22 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 269 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 270 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 271 Summary Summary NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 272 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 273 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 274 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 275 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 33 276 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 277 risk risk NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 278 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 279 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 280 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 281 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 282 raising raise VBG work_7pg23p3x4nd3zknse5pgx4fa7y 33 283 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 284 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 285 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 286 all all DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 287 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 288 commodities commodity NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 289 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 290 negative negative JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 291 consequences consequence NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 292 for for IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 293 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 294 real real JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 295 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 296 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 297 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 33 298 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 299 total total JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 300 cost cost NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 301 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 302 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 303 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 304 commodity commodity NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 305 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 306 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 307 rest rest NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 308 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 309 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 310 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 311 during during IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 312 an an DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 313 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 314 crisis crisis NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 315 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 316 increases increase VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 33 317 with with IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 318 high high JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 319 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 320 high high JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 321 prices price NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 322 high high JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 323 dependence dependence NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 324 of of IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 325 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 326 economy economy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 327 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 328 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 329 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 330 source source NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 331 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 332 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 333 captures capture NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 334 co co NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 335 - - NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 336 movements movement NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 337 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 338 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 339 assets asset NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 340 Causal causal JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 341 relationships relationship NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 342 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 343 means mean NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 344 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 345 variances variance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 346 reflect reflect VBP work_7pg23p3x4nd3zknse5pgx4fa7y 33 347 possible possible JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 348 spillover spillover NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 349 effects effect NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 350 from from IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 351 one one CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 352 product product NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 353 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 354 another another DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 355 Tail Tail NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 356 exposure exposure NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 357 to to IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 358 common common JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 359 factors factor NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 360 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 33 361 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 362 MES MES NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 363 is be VBZ work_7pg23p3x4nd3zknse5pgx4fa7y 33 364 conditional conditional JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 365 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 366 extreme extreme JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 367 energy energy NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 368 market market NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 369 shocks shock NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 370 from from IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 371 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 372 supply supply NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 373 side side NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 374 ( ( -LRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 375 restricted restrict VBN work_7pg23p3x4nd3zknse5pgx4fa7y 33 376 dynamic dynamic JJ work_7pg23p3x4nd3zknse5pgx4fa7y 33 377 PCA PCA NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 378 ) ) -RRB- work_7pg23p3x4nd3zknse5pgx4fa7y 33 379 Contact contact NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 380 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 33 381 diane.pierret@uclouvain.be diane.pierret@uclouvain.be : work_7pg23p3x4nd3zknse5pgx4fa7y 33 382 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 383 / / SYM work_7pg23p3x4nd3zknse5pgx4fa7y 33 384 23 23 CD work_7pg23p3x4nd3zknse5pgx4fa7y 33 385 The the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 386 Energy Energy NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 387 Systemic Systemic NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 388 Risk Risk NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 389 Measure measure NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 390 : : : work_7pg23p3x4nd3zknse5pgx4fa7y 33 391 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 392 Econometric Econometric NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 393 methodology methodology NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 394 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 395 application application NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 396 Causility Causility NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 397 in in IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 398 means mean NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 399 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 400 variances variance NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 401 Factor Factor NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 402 model model NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 403 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 404 tail tail NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 405 expectations expectation NNS work_7pg23p3x4nd3zknse5pgx4fa7y 33 406 EnSysRISK EnSysRISK NNP work_7pg23p3x4nd3zknse5pgx4fa7y 33 407 and and CC work_7pg23p3x4nd3zknse5pgx4fa7y 33 408 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 409 impact impact NN work_7pg23p3x4nd3zknse5pgx4fa7y 33 410 on on IN work_7pg23p3x4nd3zknse5pgx4fa7y 33 411 the the DT work_7pg23p3x4nd3zknse5pgx4fa7y 33 412 economy economy NN