The relationship between disaggregate energy consumption and industrial production in the United States: An ARDL approach

Sari R., Ewing B. T., SOYTAŞ U.

ENERGY ECONOMICS, cilt.30, sa.5, ss.2302-2313, 2008 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 30 Sayı: 5
  • Basım Tarihi: 2008
  • Doi Numarası: 10.1016/j.eneco.2007.10.002
  • Dergi Adı: ENERGY ECONOMICS
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
  • Sayfa Sayıları: ss.2302-2313
  • Anahtar Kelimeler: disaggregate energy consumption, industrial output, autoregressive distributed lag, MULTIVARIATE COINTEGRATION ANALYSIS, TIME-SERIES, ECONOMIC-GROWTH, CAUSALITY RELATIONSHIP, DEVELOPING-COUNTRIES, ERROR-CORRECTION, REAL INCOME, ROOT, GDP, DEMAND
  • Orta Doğu Teknik Üniversitesi Adresli: Evet

Özet

We re-examine the relationship between disaggregate energy consumption and industrial output, as well as employment, in the United States using the autoregressive distributed lag (ARDL) approach developed by Pesaran and Pesaran [Pesaran, M.H., Pesaran, B., 1997. Working with Microfit 4.0. Camfit Data Ltd, Cambridge] and Pesaran, Shin and Smith [Pesaran, M.H., Shin, Y., Smith, R.J., 2001. Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics 16; 289-326] In particular, we focus attention on the following energy consumption variables: coal, fossil fuels, conventional hydroelectric power, solar energy, wind energy, natural gas, wood, and waste. The sample period covers 2001:1-2005:6. Our results imply that real output and employment are long run forcing variables for nearly all measures of disaggregate energy consumption. (C) 2007 Elsevier B.V All rights reserved.