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Business cycle co-movements between renewables consumption and industrial production: A continuous wavelet coherence approach

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  • Bilgili, Faik

Abstract

One may observe that there exist many seminal papers in energy literature to investigate intensively the energy consumption–growth nexus. The majority of these papers employ time series and/or panel data methodologies to explore, if exists, the impact of energy and/or renewable energy usage on economic growth. While time series or panel data methodologies, on the other hand, can capture time and/or cross sectional dimensions of variables, they are not able to observe frequency dimension of the related variables. This paper, thus, aims at considering both time series and frequency properties of relevant data through wavelet coherence methodology to follow the possible influences of US renewable energy consumption on the US economy in both the short run and the long run cycles.

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  • Bilgili, Faik, 2015. "Business cycle co-movements between renewables consumption and industrial production: A continuous wavelet coherence approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 52(C), pages 325-332.
    • Handle: RePEc:eee:rensus:v:52:y:2015:i:c:p:325-332
    DOI: 10.1016/j.rser.2015.07.116
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    1. Ma, Yu & Zhang, Tingting & Qian, Wenyu & Wei, Danqi, 2022. "Financial development, demographic changes, and the growth of the non-hydro renewable energy Industry—An empirical test based on R&D and financing costs," Renewable Energy, Elsevier, vol. 185(C), pages 217-229.
    2. Koçak, Emrah & Şarkgüneşi, Aykut, 2017. "The renewable energy and economic growth nexus in Black Sea and Balkan countries," Energy Policy, Elsevier, vol. 100(C), pages 51-57.
    3. Shahbaz, Muhammad & Hussain Shahzad, Syed Jawad & Jammazi, Rania, 2016. "Nexus between U.S Energy Sources and Economic Activity: Time-Frequency and Bootstrap Rolling Window Causality Analysis," MPRA Paper 68724, University Library of Munich, Germany, revised 08 Jan 2016.
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    6. Li, Raymond & Lee, Hazel, 2022. "The role of energy prices and economic growth in renewable energy capacity expansion – Evidence from OECD Europe," Renewable Energy, Elsevier, vol. 189(C), pages 435-443.
    7. Akan, Taner & Gündüz, Halil İbrahim & Emirmahmutoğlu, Furkan & Işık, Ali Haydar, 2023. "Disaggregating renewable energy-growth nexus: W-ARDL and W-Toda-Yamamoto approaches," Renewable and Sustainable Energy Reviews, Elsevier, vol. 188(C).
    8. Bilgili, Faik & Kocak, Emrah & Kuskaya, Sevda & Bulut, Umit, 2022. "Co-movements and causalities between ethanol production and corn prices in the USA: New evidence from wavelet transform analysis," Energy, Elsevier, vol. 259(C).
    9. Bilgili, Faik, 1999. "Yeni Klasik kurama göre bütçe politikalarının değerlendirilmesi [An evaluation of New Classical arguments on budget policies]," MPRA Paper 80771, University Library of Munich, Germany.
    10. Ben-Salha, Ousama & Hkiri, Besma & Aloui, Chaker, 2018. "Sectoral energy consumption by source and output in the U.S.: New evidence from wavelet-based approach," Energy Economics, Elsevier, vol. 72(C), pages 75-96.
    11. Bilgili, Faik & Koçak, Emrah & Bulut, Ümit & Kuşkaya, Sevda, 2017. "Can biomass energy be an efficient policy tool for sustainable development?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 71(C), pages 830-845.
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    13. Bilgili, Faik & Koçak, Emrah & Bulut, Ümit & Kuloğlu, Ayhan, 2017. "The impact of urbanization on energy intensity: Panel data evidence considering cross-sectional dependence and heterogeneity," Energy, Elsevier, vol. 133(C), pages 242-256.
    14. Tuna, Gülfen & Tuna, Vedat Ender, 2019. "The asymmetric causal relationship between renewable and NON-RENEWABLE energy consumption and economic growth in the ASEAN-5 countries," Resources Policy, Elsevier, vol. 62(C), pages 114-124.
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    17. Hoang, Thi Hong Van & Shahzad, Syed Jawad Hussain & Czudaj, Robert L., 2020. "Renewable energy consumption and industrial production: A disaggregated time-frequency analysis for the U.S," Energy Economics, Elsevier, vol. 85(C).
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