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• W2056058705 startingPage "351" @default.
• W2056058705 abstract "Abstract Developments in applied econometrics, particularly with regard to unit root tests and cointegration tests, have motivated a rich empirical literature on energy economics over the last decade. This study reviews recent developments in time series econometrics applications in the energy economics literature. We first consider the literature on the integration properties of energy variables. We begin with a discussion of the implications of whether energy variables contain a unit root and proceed to examine how results differ according to the specific unit root or stationarity test employed. We then proceed to examine recent developments in the literature on cointegration, Granger causality and long-run estimates between (disaggregated) energy consumption and economic growth. We review both single country and panel studies and pay particular attention to studies which have expanded the literature through adding variables such as financial development and trade, in addition to energy consumption to the augmented production function, as well as studies which have extended the literature through examining disaggregated energy consumption by type. In each case we highlight best practice in the literature, point to limitations in the literature, including econometric modeling challenges, and suggest recommendations for future research. A key message of our survey is that the profession needs to guard against ‘overload’ of research in these areas as most applied studies are no longer adding anything more to what is already known." @default.
• W2056058705 created "2016-06-24" @default.
• W2056058705 creator A5016724971 @default.
• W2056058705 creator A5076980127 @default.
• W2056058705 date "2015-07-01" @default.
• W2056058705 modified "2023-10-01" @default.
• W2056058705 title "Applied econometrics and implications for energy economics research" @default.
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