Price Co-Movement between Electrical Equipment and Metal Commodities—A Time-Frequency Analysis
Round 1
Reviewer 1 Report
The paper is very interesting but I recommend some major adjustments:
- No connection between related literature and results/discussion.
- Figs 1 and 2 could be merged and Fig 3 is unnecessary.
- zeta function in eqs. 7-13 should be clarified.
- I recommend to publish a pseudocode in order to attract more people to apply this method.
- Implications is missing. Please, provide some insights for employing this findings, specially for practitioners.
Author Response
Please see the attachment.
Author Response File: 
Author Response.docx
Reviewer 2 Report
This paper analysis the time-frequency relationship between price fluctuation of the equipment and materials in Power Transmission and Distribution and metal prices. the study document (i) the co-movement manifests mainly in the short term and long term; (ii) there is no clear lead-lag relationship in the co-movement; (iii) the short-term co-movement is activated by the continuous rising of metal commodity price; (iv) the long-term co-movement is largely driven by the overall market price movement, but this effect is weakened when the metal is of high importance in producing the equipment. The idea is interesting but the authors need to make certain improvements. The introduction section should clearly identify the literature gap and contribution of the paper. The author may want to elaborate on the financialization of commodities hypothesis and its effect on the demand and supply of commodities. Certain relevant papers should be cited that look at metals and commodity relationship as well covid-19 related studies(see references). The discussion section should compare and contrast the findings with existing literature. The implications and conclusion section should be extended to include policy, academic and practical implications.
References:
https://doi.org/10.1016/j.frl.2022.103209
https://doi.org/10.1016/j.frl.2021.101999
Author Response
Please see the attachment.
Author Response File: Author Response.docx
Reviewer 3 Report
I recommend improving the article by introducing all the citations.
Author Response
Please see the attachment.
Author Response File: Author Response.docx
Round 2
Reviewer 1 Report
The paper is ok now. Congratulations!
