Are shocks to energy consumption permanent or temporary? evidence from 182 countries

Narayan, Paresh Kumar and Smyth, Russell 2007, Are shocks to energy consumption permanent or temporary? evidence from 182 countries, Energy policy, vol. 35, no. 1, pp. 333-341, doi: 10.1016/j.enpol.2005.11.027.

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Title Are shocks to energy consumption permanent or temporary? evidence from 182 countries
Author(s) Narayan, Paresh KumarORCID iD for Narayan, Paresh Kumar
Smyth, Russell
Journal name Energy policy
Volume number 35
Issue number 1
Start page 333
End page 341
Publisher Pergamon - Elsevier Ltd
Place of publication Oxford, England
Publication date 2007-01
ISSN 0301-4215
Keyword(s) energy consumption
unit roots
panel data
Summary This article applies univariate and panel data unit root tests to annual panel data for 182 countries over the period 1979–2000 to examine the stationarity properties of per capita energy consumption. The univariate unit root test can only reject the unit root null for 56 countries or 31% of the sample at the 10% level or better. However, univariate unit root tests have low power with short spans of data and therefore failure to reject the unit root null should be treated with caution. When we apply the panel data unit root test we find overwhelming evidence that energy consumption is stationary. We discuss the policy implications of these findings and offer suggestions for future research.
Language eng
DOI 10.1016/j.enpol.2005.11.027
Field of Research 140209 Industry Economics and Industrial Organisation
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2005, Elsevier Ltd
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Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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