Does economic policy uncertainty affect renewable energy consumption?. (December 2021)
- Record Type:
- Journal Article
- Title:
- Does economic policy uncertainty affect renewable energy consumption?. (December 2021)
- Main Title:
- Does economic policy uncertainty affect renewable energy consumption?
- Authors:
- Shafiullah, Muhammad
Miah, Mohammad Dulal
Alam, Md Samsul
Atif, Muhammad - Abstract:
- Abstract: In this paper, we present the first attempt at modelling the impact of economic policy uncertainty on renewable energy consumption in the USA using monthly data from 1986 to 2019. By implementing recent nonparametric (nonlinear) econometric approaches, we find that our models suffer from nonlinearity and smooth, as well as abrupt structural changes. The nonparametric unit root tests indicate non-stationarity of the model variables while the cointegration suggests the presence of nonlinear cointegration. The Granger causality analyses establish robust nonlinear causation in both directions between the policy uncertainty and renewable energy variables, with one exception: from geothermal energy to the three-component index of uncertainty. The nonparametric regressions exhibit a negative long-run association between policy uncertainty and renewable energy consumption, i.e., higher economic policy uncertainty lowers renewable energy consumptions and vice-versa. These findings have robust policy implications as they underscore the importance of governments, policymakers and concerned agents to maintain uniformity in economic policy to encourage renewable energy consumption in the USA.
- Is Part Of:
- Renewable energy. Volume 179(2021)
- Journal:
- Renewable energy
- Issue:
- Volume 179(2021)
- Issue Display:
- Volume 179, Issue 2021 (2021)
- Year:
- 2021
- Volume:
- 179
- Issue:
- 2021
- Issue Sort Value:
- 2021-0179-2021-0000
- Page Start:
- 1500
- Page End:
- 1521
- Publication Date:
- 2021-12
- Subjects:
- Renewable energy -- Economic policy uncertainty -- Nonlinear analysis -- Energy policy
E61 -- Q21 -- Q5
Renewable energy sources -- Periodicals
Power resources -- Periodicals
Énergies renouvelables -- Périodiques
Ressources énergétiques -- Périodiques
333.794 - Journal URLs:
- http://www.sciencedirect.com/science/journal/09601481 ↗
http://www.elsevier.com/journals ↗
http://www.journals.elsevier.com/renewable-energy/ ↗ - DOI:
- 10.1016/j.renene.2021.07.092 ↗
- Languages:
- English
- ISSNs:
- 0960-1481
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 7364.187000
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British Library HMNTS - ELD Digital store - Ingest File:
- 18904.xml