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The Stochastic Convergence of CO2 Emissions: A Long Memory Approach

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  • Marco R Barassi
  • Matthew A Cole
  • Robert J R Elliott

Abstract

In response to equity concerns surrounding the spatial distribution of CO2 emissions and the assumptions of CO2 convergence within some climate models, this paper examines the convergence of CO2 emissions within the OECD over the period 1870-204. More specifically, using the Local Whittle estimator and its variants we examine whether relative per capita CO2 emissions are fractionally integrated, that is they are long memory processes which, although highly persistant, may revert to the mean/trend in the long run. Our results suggest that CO2 emissions within 13 out of 18 OECD countries are indeed fractionally integrated implying that they converge over time, albeit slowly. Interestingly though, the countries whose emissions are not found to be fractionally integrated are some of the highest polluters within the OECD, at least in per capita terms. Our results have implications both for future studies of CO2 convergence and for climate policy.

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File URL: ftp://ftp.bham.ac.uk/pub/RePEc/pdf/10-32.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number 10-32.

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Length: 22 pages
Date of creation: Nov 2010
Date of revision:
Handle: RePEc:bir:birmec:10-32

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Web page: http://www.economics.bham.ac.uk
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Keywords: Fractional Integration; Local Whittle Estimation;

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  1. Michael L. Nieswiadomy & Mark C. Strazicich, 2004. "Are Political Freedoms Converging?," Economic Inquiry, Western Economic Association International, vol. 42(2), pages 323-340, April.
  2. Romero-Ávila, Diego, 2008. "Convergence in carbon dioxide emissions among industrialised countries revisited," Energy Economics, Elsevier, vol. 30(5), pages 2265-2282, September.
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Cited by:
  1. Camarero, Mariam & Picazo-Tadeo, Andrés J. & Tamarit, Cecilio, 2013. "Are the determinants of CO2 emissions converging among OECD countries?," Economics Letters, Elsevier, vol. 118(1), pages 159-162.
  2. Catherine Wolfram & Orie Shelef & Paul Gertler, 2012. "How Will Energy Demand Develop in the Developing World?," Journal of Economic Perspectives, American Economic Association, vol. 26(1), pages 119-38, Winter.
  3. Juan Antonio Duro & Jordi Teixidó-Figueras & Emilio Padilla, 2014. "The causal factors of international inequality in co2 emissions per capita: a regression-based inequality decomposition analysis," Working Papers 2014/20, Institut d'Economia de Barcelona (IEB).

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