Topic
Cointegration
About: Cointegration is a research topic. Over the lifetime, 17130 publications have been published within this topic receiving 506215 citations.
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TL;DR: In this article, the causal interdependence between energy consumption, economic growth, and CO 2 emissions in Ghana from 1960 to 2015 was examined by using the Toda-Yamamoto and Granger causality tests.
147 citations
TL;DR: In this article, the authors examined the cointegration and causal relationship between energy consumption and economic development in 16 Asia Pacific countries over the period 1970-2011 using the augmented production function which considers not only physical capital and labor but also human capital.
147 citations
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TL;DR: In this article, the authors present an empirical model of U.S. consumer spending that relates consumption to labor income and household wealth, which is consistent with the life-cycle hypothesis of saving first popularized in the 1960s by Ando, Modigliani, and their cohorts.
Abstract: This article presents an empirical model of U.S. consumer spending that relates consumption to labor income and household wealth. This specification is consistent with the life-cycle hypothesis of saving first popularized in the 1960s by Ando, Modigliani, and their cohorts. 1 My analysis here extends the previous research in several directions. First, I examine the dynamic relationship between consumption, income, and wealth using cointegration and error correction methodology. In previous research, the traditional life-cycle model has often been examined using either levels or first differences of these variables. While the use of differences does avoid the pitfall of spurious correlation due to common trending series, it tends to lead to the omission of the long-run equilibrium (cointegrating) relationships that may exist among levels of these variables. In fact, Gali (1990) goes so far as to present a theoretical life-cycle model that generates a common trend in aggregate consumption, labor income, and wealth. Therefore, my empirical work here tests for the presence of a long-run equilibrium (cointegrating) relationship between the level of aggregate consumer spending and its economic determinants such as labor income and wealth. I then examine the short-run dynamic relationship among these variables using an error correction specification proposed in Davidson et al. (1978). The present article investigates whether wealth has predictive content for future consumption. If it does, then changes in wealth may lead to changes in
147 citations
TL;DR: In this paper, the authors analyzed the dynamic association between financial development, natural resources, globalization, non-renewable, and renewable energy consumption for eight Arctic countries from 1990 to 2017.
147 citations
08 May 2014
TL;DR: In this article, the determinants of carbon dioxide emission with special emphasis on tourism development in Malaysia were investigated within a multivariate framework, which includes real GDP, energy consumption, financial development, and urbanization, cointegration and causality tests were applied to determine the relationship in the variables.
Abstract: This paper investigates the determinants of carbon dioxide emission with special emphasis on tourism development in Malaysia. Within a multivariate framework, which includes real GDP, energy consumption, financial development, and urbanization, cointegration and causality tests were applied to determine the relationship in the variables. The results reveal long-run relationships between the series and a positive unidirectional long-run causality running from tourist arrivals and the other series to pollution. The study fails to establish any causal relationship between tourism and economic growth in the long-run. These findings suggest that tourist arrivals are active contributors to pollution, but arrivals do not translate into sufficient upsurge in GDP. It is recommended that policy-makers should entrench cleaner energy programmes in their tourism development policies.
147 citations