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This paper examines the long-run equilibrium and the existence and direction of a causal relationship between carbon emissions, financial development, economic growth, energy consumption and trade openness for India. Our main contribution to the literature on Indian studies lies in the...
Persistent link: https://www.econbiz.de/10010781954
This paper revisits the link between oil price uncertainty and macroeconomy in the context of a net oil exporting country, Canada. Results obtained from alternative Structural VAR models suggest that while shocks to oil price level do not affect the aggregate level of output, the oil price...
Persistent link: https://www.econbiz.de/10010719368
The information content of the environmental Kuznets curve (EKC) is subject to change over time and all the empirical modeling work that does not take into account the possible variations and instabilities may fail to explain the variations in the per-capita CO2 and per-capita income...
Persistent link: https://www.econbiz.de/10011048935
This paper studies the nonlinear adjustment between industrial production and carbon prices – coined as ‘the carbon-macroeconomy relationship’ – in the EU 27. We model carbon price returns and industrial production as nonlinear and state-dependent, with dynamics depending on the sign and...
Persistent link: https://www.econbiz.de/10010577077
) emissions, output (GDP), energy consumption, and trade using the bounds testing approach to cointegration and the ARDL … methodology for Tunisia over the period 1971–2008. The empirical results reveal the existence of two causal long-run relationships … between the variables. In the short-run, there are three unidirectional Granger causality relationships, which run from GDP …
Persistent link: https://www.econbiz.de/10010753357
This study investigates the temporal linkages among economic growth, energy consumption, and carbon emissions for India during the period 1970–2008 using recently developed methods of out-of-sample Granger causality tests and directed acyclic graphs (DAG). Building on the data-driven DAG...
Persistent link: https://www.econbiz.de/10010753375
Product (GDP) for the major developed countries. Considering the limitation of a linear Granger causality test in detecting … test show that this new variable contains useful information to forecast GDP for the US, the UK, and Australia, suggesting … that we may include it as a forecasting variable in GDP forecasting models, especially nonlinear models, for these three …
Persistent link: https://www.econbiz.de/10010753373
indicates unidirectional causality running from energy consumption to GDP for the United Kingdom, while a bidirectional … causality between energy consumption and GDP is found for Canada, France, Japan and United States. On the other hand, Kyrtsou …–Labys test shows that a unidirectional causality runs from energy consumption to GDP for France and the United States, and from …
Persistent link: https://www.econbiz.de/10010719364
We examine the effect of energy exports and globalization on economic growth using the bias-corrected least square dummy variable model in a panel of five South Caucasus countries (Azerbaijan, Armenia, Georgia, Russia and Turkey) over the period of 1990–2009. We provide evidence that higher...
Persistent link: https://www.econbiz.de/10010737978
Movement in China's money supply is shown to drive the movement in world money supply over the last fifteen years. Structural shocks to G3 (U.S., Eurozone and Japan) real M2 and to China's real M2 are both large over 1996:1–2011:12. The cumulative impact of real G3 M2 shocks on real oil prices...
Persistent link: https://www.econbiz.de/10010738005