Though there is a very large literature examining whether energy use Granger causes economic output or vice versa, it is fairly inconclusive. Almost all existing studies use relatively short time series, or panels with a relatively small time dimension. We apply Granger causality and...

Time series of electricity, petroleum products, and renewables are found to be highly correlated with total energy consumption. Applying this insight to the huge literature on energy-GDP causality explains that the results of total energy-GDP causality tests frequently coincide with the results...

A longstanding question in macroeconomics is whether fuel prices react more to increases than to decreases of the price of oil. This paper analyzes the response of weekly gasoline and gasoil prices to oil prices in the U.S., the euro area and the four largest euro area countries (Germany,...

Access to modern energy is believed to be a prerequisite for sustainable development, poverty alleviation and the achievement of the Millennium Development Goals.

This paper examines the price transmission mechanisms between domestic ethanol and imported ethanol in the US market using a multivariate Johansen approach. The data and model support one cointegrating relationship between the prices of domestically produced ethanol, imported ethanol, and other...

The aim of this paper is to determine if OPEC acts as a cartel by testing whether the production decisions of the different countries are coordinated and if they have an influence on oil prices. Relying on cointegration and causality tests in both time series and panel settings, our findings...

The residential sector consumes about 23% of the energy derived from wood (wood energy) in the U.S. An estimated error correction model with data from 1967 to 2009 suggests that residential wood energy consumption has declined by an average 3% per year in response to technological progress,...

This paper provides a comprehensive nonlinear analysis of asymmetric adjustment of the dynamic relationship between energy intensity and urbanization using the time series data of 1978–2010 in China at both the national and the macro regional levels. Two sets of unit root tests are applied...

In this paper, the long memory properties of disaggregated fossils, coal and electricity retail consumption in the U.S. over the 1989–2009 period are examined. The presence of long memory is related to autocorrelation persistence of each series. Our results show that there is heterogeneity in...

This paper extends previous studies by investigating the relevance of structural breaks and long memory in modeling and forecasting the conditional volatility of oil spot and futures prices using a variety of GARCH-type models. Our results can be summarized as follows. First, we provide evidence...