This paper examines the relation between financial development, energy consumption and economic growth in the United States (U.S) for the period 1966-2011. We use a vector error correction model (VECM) to investigate the effect of financial development and energy consumption on economic growth...

We study the relationship between energy consumption and real GDP in the United States using a multivariate time-varying model [1973Q1-2014Q1]. We show that the combination of disaggregation into specific fuels and time variation gives more nuanced results than the alternatives for the U.S....

The rapidly growing literature on the relationship between energy consumption and economic growth has not univocally identified the "real" causal relationship yet. We argue that bivariate models, which analyze the causality at the level of the total economy, are not appropriate - especially in...