We examine the long-run relations and short-run dynamics among the three primary energy prices-coal, natural gas and crude oil-using the annual and monthly US data for the post-1970 period. The results are consistent with the view that oil prices are determined globally; natural gas prices are...

This paper address the extent of capital mobility and foreign debt sustainability in Turkey over the 1962-2003 period by examining the relationship between saving and investment, and imports and exports, respectively. The empirical investment is based on cointegration, error correction models,...

The sustainability of the Turkish budget deficits as well as the dynamics of government revenues and expenditures in controlling the size of the deficit is examined using annual data from 1968 to 2004. The findings support the existence of a long-run relation between government revenues and...

This study examines the stochastic conditional convergence of sulphur dioxide (SO₂) emissions using the Residual Augmented Least Squares--Lagrange Multiplier (RALS--LM) unit root test with structural breaks. This procedure allows the data to account for trend breaks and nonnormal errors that...

This study extends the empirical literature on the determinants of renewable energy consumption in the case of 25 OECD countries for the period 1980-2011. Preliminary analysis suggests the presence of cross-sectional dependence within the panel data. As a result, second-generation panel unit...