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Persistence in per capita energy consumption: A fractional integration approach with a Fourier function

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dc.date.accessioned 2021-06-08T09:11:48Z
dc.date.available 2021-06-08T09:11:48Z
dc.date.issued 2020
dc.identifier.issn 0140-9883
dc.identifier.uri https://hdl.handle.net/20.500.12619/96098
dc.description Bu yayının lisans anlaşması koşulları tam metin açık erişimine izin vermemektedir.
dc.description.abstract In this study, we investigate the degree of persistence for aggregate energy consumption per capita for 113 countries over the period 1960-2014 through a recently introduced fractional unit root test with a Fourier function to allow multiple smooth structural breaks. We also employ the ADF unit root test, the efficient Wald test for fractional unit-roots. and the Fourier ADF test to make a comparison and to enrich the study. The empirical results considering the fractional Fourier unit root test indicate two crucial points. First, shocks have only temporary effects on energy consumption per capita, and it will vanish slowly as a result of the long memory characteristic. Therefore even transitory shocks have persistence effects, which require permanent policies due to their nature.This inference indifferent from what would be erroneously suggested by the dichotomous approach for stationarity and nonstationarity that temporary shocks will have transitory effects. Second, the integration degree of energy consumption per capita may change due to the existence of a structural break: therefore, policymakers must be aware of the varying integration degree to design and implement the best policies. (C) 2020 Elsevier B.V. All rights reserved.
dc.language English
dc.language.iso eng
dc.publisher ELSEVIER
dc.relation.isversionof 10.1016/j.eneco.2020.104926
dc.rights info:eu-repo/semantics/closedAccess
dc.subject UNIT-ROOT
dc.subject TRANSITORY EVIDENCE
dc.subject PERMANENT
dc.subject SHOCKS
dc.subject FLUCTUATIONS
dc.subject TEMPORARY
dc.subject PANEL
dc.subject STATIONARY
dc.subject CAUSALITY
dc.subject TESTS
dc.title Persistence in per capita energy consumption: A fractional integration approach with a Fourier function
dc.type Article
dc.contributor.authorID Yilanci, Veli/0000-0001-5738-690X
dc.contributor.authorID Gorus, Muhammed Sehid/0000-0002-7614-4567
dc.contributor.authorID Bozoklu, Seref/0000-0002-9186-866X
dc.identifier.volume 91
dc.relation.journal ENERGY ECONOMICS
dc.identifier.doi 10.1016/j.eneco.2020.104926
dc.identifier.eissn 1873-6181
dc.contributor.author Bozoklu, Seref
dc.contributor.author Yilanci, Veli
dc.contributor.author Gorus, Muhammed Sehid
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı


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