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Energy Consumption and Economic Growth in the United States
Arora, Vipin - 2015
We study the relationship between energy consumption and real GDP in the United States using a multivariate time … energy and real U.S. GDP is bi-directional through much of the 1990s (the feedback hypothesis) but uni-directional running … from real U.S. GDP to energy consumption in the 2000s (the conservation hypothesis). Similar pattern of changes was …
Persistent link: https://www.econbiz.de/10013023991
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Do energy efficiency improvements reduce energy use? : empirical evidence on the economy-wide rebound effect in Europe and the United States
Berner, Anne; Bruns, Stephan B.; Moneta, Alessio; … - 2021
Improving energy efficiency is often considered to be one of the keys to reducing greenhouse gas emissions. However, efficiency gains also reduce the cost of energy services and may even reduce the price of energy, resulting in energy use rebounding and potential energy use savings being eaten...
Persistent link: https://www.econbiz.de/10012520265
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Commodity Price Shocks and the Business Cycle: Structural Evidence for the U.S.
Gubler, Matthias; Hertweck, Matthias S. - 2011
This paper develops a 9-dimensional SVAR to investigate the sources of the U.S. business cycle. We extend the standard set of identified shocks to include unexpected changes in commodity prices. Our main result is that commodity price shocks are a very important driving force of macroeconomic...
Persistent link: https://www.econbiz.de/10011390656
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On the Macroeconomic Determinants of the Long-Term Oil-Stock Correlation
Conrad, Christian; Loch, Karin; Rittler, Daniel - 2012
Using a modified DCC-MIDAS specification, we endogenize the long-term correlation between crude oil and stock price returns with respect to the stance of the U.S. macroeconomy. We find that variables which contain information on current and future economic activity are helpful predictors for...
Persistent link: https://www.econbiz.de/10011422237
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On the macroeconomic determinants of the long-term oil-stock correlation
Conrad, Christian; Loch, Karin; Rittler, Daniel - 2012
Using a modified DCC-MIDAS specification, we endogenize the long-term correlation between crude oil and stock price returns with respect to the stance of the U.S. macroeconomy. We find that variables which contain information on current and future economic activity are helpful predictors for...
Persistent link: https://www.econbiz.de/10009526194
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Do Oil Prices Help Forecast U.S. Real GDP? The Role of Nonlinearities and Asymmetries
Kilian, Lutz - 2012
There is a long tradition of using oil prices to forecast U.S. real GDP. It has been suggested that the predictive … relationship between the price of oil and one-quarter ahead U.S. real GDP is nonlinear in that (1) oil price increases matter only … price of oil is not helpful for out-of-sample forecasting; more robust and more accurate real GDP forecasts are obtained …
Persistent link: https://www.econbiz.de/10013100207
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On the Macroeconomic Determinants of Long-Term Volatilities and Correlations in U.S. Stock and Crude Oil Markets
Conrad, Christian - 2014
Using a modified DCC-MIDAS specification, we endogenize the long-term correlation between crude oil and stock price returns with respect to the stance of the U.S. macroeconomy. We find that variables that contain information on current and future economic activity are helpful predictors of...
Persistent link: https://www.econbiz.de/10013066427
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The U.S. Oil Supply Revolution and the Global Economy
Mohaddes, Kamiar - 2017
-driven oil price shock, with real GDP increasing in both advanced and emerging market oil-importing economies, output declining …
Persistent link: https://www.econbiz.de/10012970152
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The Asymmetric Impact of Oil Prices, Interest Rates and Oil Price Uncertainty on Unemployment in US
Kocaarslan, Barış - 2019
In this study, we investigate the presence of asymmetric interactions between oil prices, oil price uncertainty, interest rates and unemployment in a cointegration framework. Utilizing the nonlinear auto-regressive distributed lag (NARDL) approach, we show the asymmetric responses of...
Persistent link: https://www.econbiz.de/10012860192
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The Effect of Oil Supply Shocks on U.S. Economic Activity : What Have We Learned?
Herrera, Ana Maria - 2018
Estimated responses of real oil prices and US GDP to oil supply disruptions vary widely. We show that most variation is … elasticity of oil supply imply a larger response of oil prices and a larger, longer-lived contraction in U.S. real GDP. We find … of U.S. real GDP …
Persistent link: https://www.econbiz.de/10012920412