Peer reviewed Journals

Klein, T. (2022): Agree to Disagree? Predictions of U.S. Nonfarm Payroll Changes between 2008 and 2020 and the Impact of the COVID19 Labor Shock, in: Journal of Economic Behavior and Organization, Volume 194, pp. 264-286. DOI: 10.1016/j.jebo.2021.11.028 [SSRN Working Paper]

Zhang, Z., Bouri, E., Klein, T., Jalkh, N. (2022): Geopolitical risk and the returns and volatility of global defense companies: A new race to arms?, in: International Review of Financial Analysis, Volume 83, 102327. DOI:

Bouri, E., Iqbal, N., Klein, T. (2022): Climate policy uncertainty and the price dynamics of green and brown energy stocks, in: Finance Research Letters, Volume 47, 102740. DOI:

Alqahtani, A., Klein, T. (2021): Oil Price Changes, Uncertainty, and Geopolitical Risks: On the Resilience of GCC Countries to Global Tensions, in: Energy, Volume 236, 121541 . DOI: 10.1016/

Klein, T., Todorova, N. (2021): Night Trading with Futures in China: The Case of Aluminum and Copper, in: Resources Policy, Volume 73, 102205. DOI: 10.1016/j.resourpol.2021.102205 [SSRN Working Paper]

Basse, T., Klein, T., Vigne, S., Wegener, C. (2021): U.S. stock prices and the Can dividend policy rescue the efficient market hypothesis?, in: Journal of Corporate Finance, Volume 67, 101892, DOI: 10.1016/j.jcorpfin.2021.101892

Klein, T. (2021): A Note on GameStop, Short Squeezes, and Autodidactic Herding: An Evolution in Financial Literacy? , in: Finance Research Letters, forthcoming. DOI: 10.1016/ [SSRN Working Paper]

Charfeddine, L., Klein, T., Walther, T. (2020): Reviewing the Oil Price - GDP Growth Relationship: A Replication Study, in: Energy Economics, Volume 88, 104786 . DOI: 10.1016/j.eneco.2020.104786 [SSRN Working Paper]

Luo, J., Ji, Q., Klein, T., Todorova, N., Zhang, D. (2020): On Realized Volatility of Crude Oil Futures Markets: Forecasting with Exogenous Predictors under Structural Breaks, in: Energy Economics, Volume 89, 104781. DOI: 10.1016/j.eneco.2020.104781

Alqahtani, A., Klein, T., Khalid, A. (2019): The Impact of Oil Price Uncertainty on GCC Stock Markets, in: Resources Policy, Volume 64, 101526. DOI: 10.1016/j.resourpol.2019.101526 [SSRN Preprint]

Degiannakis, S., Filis, G., Klein, T., Walther, T. (2019): Forecasting Realized Volatility of Agricultural Commodities, in: International Journal of Forecasting, forthcoming. DOI: 10.1016/j.ijforecast.2019.08.011 [SSRN Preprint]

Walther, T., Klein, T., Bouri, E. (2019): Exogenous Drivers of Bitcoin and Cryptocurrency Volatility – A Mixed Data Sampling Approach to Forecasting, in: Journal of International Financial Markets, Institutions & Money, Volume 63, 101133. DOI: 10.1016/j.intfin.2019.101133. [SSRN Preprint]

Luo, J., Hou, C., Klein, T., Li, Q. (2019): Forecasting Realized Volatility of Agricultural Commodity Futures with Infinite Hidden Markov HAR Models, in: International Journal of Forecasting, forthcoming. DOI: 10.1016/j.ijforecast.2019.08.007 [SSRN Preprint]

Klein, T. (2018): Trends and Contagion in WTI and Brent Crude Oil Spot and Futures Markets - The Role of OPEC in the last Decade, in: Energy Economics, Vol. 75, pp. 636-646. DOI: 10.1016/j.eneco.2018.09.013. [SSRN Preprint]

Klein, T., Thu, H. P., Walther, T. (2018): Bitcoin Is Not the New Gold: A Comparison of Volatility, Correlation, and Portfolio Performance, in: International Review of Financial Analysis, Vol. 58, pp. 105-116. DOI: 10.1016/j.irfa.2018.07.010

Bui Quang, P.; Klein, T.; Nguyen, N. H.; Walther, T. (2018): Value-at-Risk for South-East Asian Stock Markets: Stochastic Volatility vs. GARCH, in: Journal of Risk and Financial Management, Vol. 11, No. 2. DOI: 10.3390/jrfm11020018

Klein, T. (2017): Dynamic Correlation of Precious Metals and Flight-to-Quality in Developed Markets, in: Finance Research Letters, Vol 23C, pp. 283-290. DOI: 10.1016/

Klein, T.; Walther, T. (2017): Fast Fractional Differencing in Modeling Long Memory of Conditional Variance for High-Frequency Data, in: Finance Research Letters, Vol. 22C, pp. 274-279. DOI: 10.1016/

Walther, T.; Klein, T.; Pham Thu, H.; Piontek, K.(2017): True or Spurious Long Memory in European Non-EMU Currencies, in: Research in International Business and Finance, Vol. 40, pp. 217-230. DOI: 10.1016/j.ribaf.2017.01.003

Klein, T.; Walther, T. (2016): Oil Price Volatility Forecast with Mixture-Memory-GARCH Models, in: Energy Economics, Vol. 58, pp. 46-58. DOI: 10.1016/j.eneco.2016.06.004

Walther, T.; Klein, T. (2015): Contingent Convertible Bonds and its Impact on Risk-Taking of Managers, in: Cuadernos de Economía - Spanish Journal of Economics and Finance, Volume 38, Issue 106, pp. 54–64. DOI: 10.1016/j.cesjef.2014.09.001

Books and Chapters

Modern Finance and Risk Management, Edited By: Tony Klein (Queen's University Belfast, UK), Sven Loßagk (University of Cooperative Education Dresden, Germany), Mario Straßberger (Zittau/Görlitz University of Applied Sciences, Germany) and Thomas Walther (Utrecht University, The Netherlands), World Scientific, Pages: 508, ISBN: 978-1-80061-190-0, DOI: 10.1142/q0351

Klein, T.; Walther, T. (2022): Dynamic Correlation of Precious Metals and Equity Markets: A Mixed Data Sampling Approach, in: Modern Finance and Risk Management, edited by: Klein, T.; Loßagk, S.; Straßberger, M.; Walther, T.; Chapter 20. DOI: 10.1142/q0351

Conference Proceedings

Klein, T. (2017): Trends and Contagion in WTI and Brent Crude Oil Spot and Futures Markets: A Spread and Correlation Analysis, Proceedings of the 40th Annual IAEE International Conference Singapore.

Klein, T.; Pham Thu, H.; Walther, T. (2016): Empirical Evidence of Long Memory and Asymmetry in EUR/PLN Exchange Rate Volatility, in: Research Papers of Wroclaw University of Economics, No. 428, pp. 128-140.


Dudda, T.; Klein, T.; Walther, T. (2021): Schätzung und Vorhersage Realisierter Volatilität, in: WiSt – Wirtschaftswissenschaftliches Studium, Jhg. 50, Nr. 4, S. 19-25.

Locarek-Junge, H.; Klein, T. (2016): Foreign Exchange Hedging, in: WISU – Das Wirtschaftsstudium, Jhg. 45, Nr. 3, S. 298 - 304, 335.

Locarek-Junge, H.; Klein, T.; Walther, T. (2014): GARCH-Modelle, in: WISU - Das Wirtschaftsstudium, Jhg. 43, Nr. 11, S. 1348-1354, 1387.

PhD Dissertation on ResearchGate