Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5483044 | Renewable and Sustainable Energy Reviews | 2017 | 6 Pages |
Abstract
This article applies a recent econometric framework to the analysis of the relationship between energy consumption and economic growth in the US, which allows a joint study of causality and persistence. We provide evidence suggesting a nonlinear relationship with a structural break. In the most recent regime, we find that GDP causes energy consumption (and vice versa). Furthermore, both series show persistence, i.e., cyclical and natural components do not evolve independently. Thus, policies oriented to the reduction of energy consumption could constrain economic growth, and policy shocks can have permanent effects.
Keywords
Related Topics
Physical Sciences and Engineering
Energy
Renewable Energy, Sustainability and the Environment
Authors
Mónica Carmona, Emilio Congregado, Julia Feria, Jesús Iglesias,