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Energy Consumption and Economic Growth in Sweden: A Leveraged Bootstrap Approach, 1965-2000

  • Hatemi, A.


  • Irandoust, M.


The 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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Article 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 ()
Pages: 87-98

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Handle: RePEc:eaa:ijaeqs:v:2:y2005:i:4_6
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  1. Sims, Christopher A & Stock, James H & Watson, Mark W, 1990. "Inference in Linear Time Series Models with Some Unit Roots," Econometrica, Econometric Society, vol. 58(1), pages 113-44, January.
  2. Yu, Eden S. H. & Hwang, Been-Kwei, 1984. "The relationship between energy and GNP : Further results," Energy Economics, Elsevier, vol. 6(3), pages 186-190, July.
  3. A. Hatemi-J, 2003. "A new method to choose optimal lag order in stable and unstable VAR models," Applied Economics Letters, Taylor & Francis Journals, vol. 10(3), pages 135-137.
  4. Toda, Hiro Y. & Yamamoto, Taku, 1995. "Statistical inference in vector autoregressions with possibly integrated processes," Journal of Econometrics, Elsevier, vol. 66(1-2), pages 225-250.
  5. R. Scott Hacker & Abdulnasser Hatemi-J, 2006. "Tests for causality between integrated variables using asymptotic and bootstrap distributions: theory and application," Applied Economics, Taylor & Francis Journals, vol. 38(13), pages 1489-1500.
  6. Erol, Umit & Yu, Eden S. H., 1987. "Time series analysis of the causal relationships between U.S. energy and employment," Resources and Energy, Elsevier, vol. 9(1), pages 75-89, June.
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