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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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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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Oil price uncertainty and the business cycle : accounting for the influences of global supply and demand within a VAR GARCH-in-mean framework
Thiem, Christopher - 2017
This paper reinvestigates the influence of oil price uncertainty on real economic activity in the U.S. using a four-variable VAR, GARCH-in-mean, asymmetric BEKK model. In contrast to previous studies in this area, the analysis focuses on business cycle fluctuations and we control for global...
Persistent link: https://www.econbiz.de/10011608019
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How are oil supply shocks transmitted to the U.S. economy?
Geiger, Martin; Güntner, Jochen - 2019
We investigate how oil supply shocks are transmitted to U.S. economic activity, consumer prices, and interest rates. Using a structural VAR approach with a combination of sign and zero restrictions, we distinguish between supply and demand channels in the transmission of exogenous changes in...
Persistent link: https://www.econbiz.de/10012009877
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Are the responses of the U.S. economy asymmetric in energy price increases and decreases?
Kilian, Lutz; Vigfusson, Robert J. - In: Quantitative economics : QE ; journal of the … 2 (2011) 3, pp. 419-453
How much does real gross domestic product (GDP) respond to unanticipated changes in the real price of oil? Commonly … used censored oil price vector autore- gressive models suggest a substantial decline in real GDP in response to unex …
Persistent link: https://www.econbiz.de/10011756396
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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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Commodity price shocks and the business cycle : structural evidence for the US
Gubler, Matthias; Hertweck, Matthias S. - 2011 - This version: March 28, 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/10009008065
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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
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Replication and Robustness Analysis of 'Energy and Economic Growth in the USA : A Multivariate Approach'
Bruns, Stephan - 2018
energy use to GDP. Though we could not access the original dataset, we can verify the main original inferences using data … series modeling of the energy-GDP relationship and controlling for other factors of production. We also discuss how the …
Persistent link: https://www.econbiz.de/10012920783