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This study aims to explore the linkage between fluctuations in the global crude oil price and equity market in fast emerging economies of India and China.

The present research uses wavelet decomposition and maximal overlap discrete wavelet transform (MODWT), which decompose the time series into various frequencies of short, medium and long-term nature. The paper further uses continuous and cross wavelet transform to analyze the variance among the variables and wavelet coherence analysis and wavelet-based Granger causality analysis to examine the direction of causality between the variables.

The continuous wavelet transform indicates strong variance in WTIR (return series of West Texas Instrument crude oil price) in short, medium and long run at various time periods. The variance in CNX Nifty is observed in the short and medium run at various time periods. The Chinese stock index, i.e. SCIR, experiences very little variance in short run and significant variance in the long and medium run. The causality between the changes in crude oil price and CNX Nifty is insignificant and there exists a bi-directional causality between global crude oil price fluctuations and the Chinese equity market.

To the best of the authors’ knowledge, very limited work has been done where the researchers have analyzed the linkage between the equity market and crude oil price fluctuations under the framework of discrete wavelet transform, which overlooks the bottleneck of non-stationarity nature of the time series. To bridge this gap, the present research uses wavelet decomposition and MODWT, which decompose the time series into various frequencies of short, medium and long-term nature.

This paper aims to examine the comovement among green bonds, energy commodities and stock market to determine the advantages of adding green bonds to a diversified portfolio.

Generic 1 Natural Gas and Energy Select SPDR Fund are used as proxies to measure energy commodities, bonds index of S&P Dow Jones and Bloomberg Barclays MSCI are used to represent green bonds and the New York Stock Exchange is considered to measure the stock market. Granger causality test, wavelet analysis and network analysis are applied to daily price for the select markets from August 26, 2014, to March 30, 2021.

Results from the Granger causality test indicate no causality between any pair of variables, while cross wavelet transform and wavelet coherence analysis confirm strong coherence at a high scale during the pandemic, validating comovement among the three asset classes. In addition, network analysis further corroborates this connectedness, implying a strong association of the stock market with the energy commodity market.

This study offers new evidence of the temporal association among the US stock market, energy commodities and green bonds during the COVID-19 crisis. It presents a novel approach that measures and evaluates comovement among the constituent series, simultaneously using both wavelet and network analysis.

The purpose of this paper is to show that major reversals of an index (specifically BIST-30 index) can be detected uniquely on the date of reversal by checking the extreme outliers in the rate of change series using daily closing prices.

The extreme outliers are determined by checking if either the rate of change series or the volatility of the rate of change series displays more than two standard deviations on the date of reversal. Furthermore; wavelet analysis is also utilized for this purpose by checking the extreme outlier characteristics of the A1 (approximation level 1) and D3 (detail level 3) wavelet components.

Paper investigates ten major reversals of BIST-30 index during a five year period. It conclusively shows that all these major reversals are characterized by extreme outliers mentioned above. The paper also checks if these major reversals are unique in the sense of being observed only on the date of reversal but not before. The empirical results confirm the uniqueness. The paper also demonstrates empirically the fact that extreme outliers are associated only with major reversals but not minor ones.

The results are important for fund managers for whom the timely identification of the initial phase of a major bullish or bearish trend is crucial. Such timely identification of the major reversals is also important for the hedging applications since a major issue in the practical implementation of the stock index futures as a hedging instrument is the correct timing of derivatives positions.

To the best of the author’ knowledge; this is the first study dealing with the issue of major reversal identification. This is evidently so for the BIST-30 index and the use of extreme outliers for this purpose is also a novelty in the sense that neither the use of rate of change extremity nor the use of wavelet decomposition for this purpose was addressed before in the international literature.

The paper examines the impact of COVID-19 on bank stock returns over various time scales and frequencies for 36 countries. Moreover, the authors look at the governments' responses to the corona crisis and examine its impact on bank stock returns.

The paper applies continuous wavelet transformation to obtain robust estimates of the co-movement (coherency) between confirmed cases and bank stock returns over time and at different time scales. Furthermore, the authors apply fixed effects panel regression to examine the response of bank stocks to domestic COVID-19 policies.

The results indicate that the number of confirmed COVID-19 cases negatively impacts bank stock returns during different waves of the pandemic in the medium-run. However, there is only little dependence in the very short-run. Moreover, bank stock returns positively react to domestic COVID-19 polices. This demonstrates that governmental interventions not only reduce the spread of COVID-19 but are also able to thereby calm financial markets.

The application of wavelet methods to the field of economics and finance is relatively recent and allows the distinction between short-term and long-term effects. Standard econometric methods, in contrast, only operate within the time domain. This paper combines wavelet methods with conventional econometrics to answer the research question.

Current technology makes it easy for humans to take an image and convert it to digital content, but sometimes there is additional noise in the image so it looks damaged. The damage that often occurs, like blurring and excessive noise in digital images, can certainly affect the meaning and quality of the image. Image restoration is a process used to restore the image to its original state before the image damage occurs. In this research, we proposed an image restoration method by combining Wavelet transformation and Akamatsu transformation. Based on previous research Akamatsu's transformation only works well on blurred images. In order not to focus solely on blurry images, Akamatsu's transformation will be applied based on Wavelet transformations on high-low (HL), low-high (LH), and high-high (HH) subunits. The result of the proposed method will be comparable with the previous methods. PSNR is used as a measure of image quality restoration. Based on the results the proposed method can improve the quality of the restoration on image noise, such as Gaussian, salt and pepper, and also works well on blurred images. The average increase is around 2 dB based on the PSNR calculation.

The purpose of this paper is to estimate the years the European Muslim population will be majority among 30 European countries.

The methodology/approach is to forecast the population of 30 European countries with wavelet analysis combined with the Burg model which fits a pth order autoregressive model to the input signal by minimizing (least squares) the forward and backward prediction errors while constraining the autoregressive parameters to satisfy the Levinson–Durbin recursion, then relies on an infinite impulse response prediction error filter. Three scenarios are considered: the zero-migration scenario where the authors assume that the Muslim population has a higher fertility (one child more per woman, on average) than other Europeans, mirroring a global pattern; a 2017 migration scenario: to the Muslim population obtained in the zero-migration scenario, the authors add a continuous flow of migrants every year based on year 2017; the mid-point migration scenario is obtained by averaging the data of the two previous scenarios.

Among three scenarios, the most likely mid-point migration scenario identifies 13 countries where the Muslim population will be majority between years 2085 and 2215: Cyprus (in year 2085), Sweden (2125), France (2135), Greece (2135), Belgium (2140), Bulgaria (2140), Italy (2175), Luxembourg (2175), the UK (2180), Slovenia (2190), Switzerland (2195), Ireland (2200) and Lithuania (2215). The 17 remaining countries will never reach majority in the next 200 years.

The growing Muslim population will change the face of Europe socially, politically and economically. This paper will provide a better insight and understanding of Muslim population dynamics to European governments, policymakers, as well as social and economic planners.

The purpose of the study is to evaluate whether nighttime luminosity sourced from the Defense Meteorological Satellite Program-Operational Linescan System satellite sensors is a suitable proxy for measuring poverty in Africa.

Our study performs wavelet coherence analysis to investigate the time-frequency synchronization between the nightlight data and “income-to-wealth” ratio for 39 African countries between 1992 and 2012.

All-in-all, the authors find that approximately a third of African countries produce positive synchronizations between nighttime data and “income-to-wealth” ratio and hence conclude that most African countries are not at liberty to use nighttime data to proxy conventional poverty statistics.

In differing from previous studies, the authors examine the suitability of nightlight intensity as a proxy of poverty for individual African countries using much more rigorous analysis.

The volatility of bitcoin (BTC) and time horizon is the center point for investment decisions. However, attention is not often drawn to the relationship between BTC and equity indices. Thus, the purpose of this paper is to investigate the volatility and time frequency domain of BTC with stock markets.

This paper examines the impact of political instability on the investors' behavior, measured by Google search queries, and on the dynamics of stock market returns.

First, by using the DCC-GARCH model, the authors examine the effect of investor sentiment on the Tunisian stock market return. Second, the authors employ the fully modified dynamic ordinary least square method (FMOL) to estimate the long-term relationship between investor sentiment and Tunisian stock market return. Finally, the authors use the wavelet coherence model to test the co-movement between investor sentiment measured by Google Trends and Tunisian stock market return.

Using the dynamic conditional correlation (DCC), the authors find that Google search queries index has the ability to reflect political events especially the Tunisian revolution. In addition, empirical results of fully modified ordinary least square (FMOLS) method reveal that Google search queries index has a slightly higher effect on Tunindex return after the Tunisian revolution than before this revolution. Furthermore, by employing wavelet coherence model, the authors find strong comovement between Google search queries index and return index during the period of the Tunisian revolution political instability. Moreover, in the frequency domain, strong coherence can be found in less than four months and in 16–32 months during the Tunisian revolution which show that the Google search queries measure was leading over Tunindex return. In fact, wavelet coherence analysis confirms the result of DCC that Google search queries index has the ability to detect the behavior of Tunisian investors especially during the period of political instability.

This study provides empirical evidence to portfolio managers that may use Google search queries index as a robust measure of investor's sentiment to select a suitable investment and to make an optimal investments decisions.

The important research question of how political instability affects stock market dynamics has been neglected by scholars. This paper attempts principally to fill this void by investigating the time-varying interactions between market returns, volatility and Google search based index, especially during Tunisian revolution.

This paper presents a new algorithm for detecting and characterizing potholes and bumps directly from noisy signals acquired using an Accelerometer. A wavelet transformation based filter was used to decompose the signals into multiple scales. These coefficients were correlated across adjacent scales and filtered using a spatial filter. Road anomalies were then detected based on a fixed threshold system, while characterization was achieved using unique features extracted from the filtered wavelet coefficients. Our analyses show that the proposed algorithm detects and characterizes road anomalies with high levels of accuracy, precision and low false alarm rates.