Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/68759
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dc.contributor.authorLee, C.C.en_US
dc.contributor.authorChang, C.P.en_US
dc.contributor.authorChen, P.F.en_US
dc.date2008zh_TW
dc.date.accessioned2014-06-11T05:57:17Z-
dc.date.available2014-06-11T05:57:17Z-
dc.identifier.issn0140-9883zh_TW
dc.identifier.urihttp://hdl.handle.net/11455/68759-
dc.description.abstractThis paper applies a recent advance in panel analysis to estimate the panel cointegration and panel vector error correction models for a set of 22 OECD countries using annual data covering the period 1960-2001. We investigate the relationship between energy consumption and income using an aggregate production Function and controlling for the capital stock, as well as by exploring the dynamic directions of the causality among these three variables. We firstly obtain solid and convincing evidence of a fairly strong long-run equilibrium relationship among them. Secondly, it is found that the capital stock is much more productive than energy consumption. Third, it is observed that neglecting the impact of the capital stock on income tends to overestimate the effect of energy consumption. Finally, the panel causality test shows bi-directional causal linkages exist among energy consumption, the capital stock and economic growth. Overall, the findings reveal that the capital stock plays a critical role in realizing the dynamic relationship between energy and income. (C) 2008 Elsevier B.V. All rights reserved.en_US
dc.language.isoen_USzh_TW
dc.relationEnergy Economicsen_US
dc.relation.ispartofseriesEnergy Economics, Volume 30, Issue 5, Page(s) 2359-2373.en_US
dc.relation.urihttp://dx.doi.org/10.1016/j.eneco.2008.01.005en_US
dc.subjectenergy consumptionen_US
dc.subjectincomeen_US
dc.subjectcapital stocken_US
dc.subjectpanel cointegrationen_US
dc.subjectpanelen_US
dc.subjectcausalityen_US
dc.subjectunit-root testsen_US
dc.subjectmultivariate cointegration analysisen_US
dc.subjectfinite-sampleen_US
dc.subjectpropertiesen_US
dc.subjecteconomic-growthen_US
dc.subjectpanel-dataen_US
dc.subjectelectricity consumptionen_US
dc.subjectheterogeneous panelsen_US
dc.subjecterror-correctionen_US
dc.subjectgdpen_US
dc.subjectimpacten_US
dc.titleEnergy-income causality in OECD countries revisited: The key role of capital stocken_US
dc.typeJournal Articlezh_TW
dc.identifier.doi10.1016/j.eneco.2008.01.005zh_TW
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