Belke, Ansgar; Dreger, Christian; Haan, Frauke de - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
This paper examines the long-run relationship between energy consumption and real GDP, including energy prices, for 25 … developments dominate the long-run relationship between energy consumption and real GDP. Furthermore, the results suggest that … energy consumption is price-inelastic. Causality tests indicate the presence of a bi-directional causal relationship between …