Price and Volume Dynamics in Second-Hand Ship Market Based on VAR-GARCH Mode

To investigate the relationship between trading volume and prices volatility in second-hand ship total markets, bulk ship, tanker and containership market, regression, VAR and EGARCH model are constructed to analyze the contemporaneous relationships, lead-lag relationships and returns volatility-volume dynamics. The positive contemporaneous relationships are identified in the four second-ship market, all the four second-hand ship markets have unilateral causality between trading volume and price return except tanker market, the return volatility in all the four markets has leverage effects, and past trading volume have positive impact on return volatility in all second-hand ship markets.