Guinea Voinea, LaurentiuPérez Sánchez, Rafaela MaríaRuiz Andújar, Jesús2024-04-302024-04-302024Guinea Laurentiu, Puch Luis A., Ruiz Jesús. Energy news shocks and their propagation to renewable and fossil fuels use Energy Economics, 0140-9883 (2024), p. 107289, 10.1016/j.eneco.2023.107289https://doi.org/10.1016/j.frl.2023.104938https://hdl.handle.net/20.500.14352/103700Wethank the Spanish Ministry de Economía y Competitividad (grants TED2021-129891B-I00 and PID2022-138706NB-I00) for financial support. The authors are also grateful for the suggestions of two anonymous reviewers, who have significantly improved the article, as well as for the comments of the attendees of the XI Meeting on International Economics.We examine the asymmetric effects of financial instability shocks and their volatility on the conventional and renewable energy mix. We utilize Chicago Board Options Exchange (CBOE) Volatility Index (VIX) and the Volatility-of-Volatility index (vVIX) in a nonlinear autoregressive distributed lag (NARDL) model to estimate the short- and long-term asymmetry effects across energy mix in Europe, the US, and China. Our estimations indicate that the long-term effects over the energy mix are more significant than their short-term effects. The results also show that the responses to the volatility of financial instability, vVIX, are different from the responses to financial instability itself, VIX, and revealed a more pronounced impact on changes in vVIX compared to VIX. We find that the asymmetries of energy mix responses to positive or negative shocks in VIX and vVIX have been decreasing over the periods.engAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/journal article1544-6131https://www.sciencedirect.com/science/article/pii/S1544612323013107open accessC12C32C58G01G13G17Q42AsymmetriesFinancial instabilityNARDLRenewable energyVIX Volatility-of-volatilityFinanzas5312.06 Finanzas y Seguros