Energy Consumption and Economic Growth in Sweden: A Leveraged Bootstrap Approach, 1965-2000
AbstractThe causal interaction between energy consumption, real activity and the prices in the Swedish economy is investigated over the period 1965-2000. The leveraged bootstrap simulation technique is used to generate more reliable critical values for tests of Granger causality between integrated variables. The estimation results reveal that energy consumption does not cause economic activity but rather it is caused by economic activity. Also we find that prices cause both economic activity and energy consumption without feedback causal relationship from these variables. The policy implications of these causal findings are explained.
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Bibliographic InfoArticle provided by Euro-American Association of Economic Development in its journal International Journal of Applied Econometrics and Quantitative Studies .
Volume (Year): 2 (2005)
Issue (Month): 4 ()
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Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
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