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Are shocks to natural gas consumption transitory or permanent? A more powerful panel unit root test on the G7 countries
Natural Resources Forum ( IF 3.5 ) Pub Date : 2019-03-21 , DOI: 10.1111/1477-8947.12169
Yifei Cai 1 , Cosimo Magazzino 2
Affiliation  

This article re‐examines the persistence in natural gas consumption using an alternative methodology. We compare the results of traditional panel unit root tests with those provided by Bahmani‐Oskooee et al., which allow for both sharp and smooth breaks. Our analysis uses data for the G7 countries over the 1965–2016 years. The empirical findings show that while traditional unit root tests with sharp breaks lean towards the non‐stationarity of the series for all the G7 countries, modeling breaks in our unit root testing methodology can assert that natural gas consumption is non‐stationary only for Canada, France, Italy, and USA. These results imply that, for the majority of our sample, energy demand management policies designed to shrink energy consumption will have temporary effects, as energy consumption will return to its trend path.

中文翻译:

对天然气消费的冲击是暂时的还是永久性的?对 G7 国家进行更强大的面板单位根测试

本文使用替代方法重新审视天然气消费的持续性。我们将传统面板单位根检验的结果与 Bahmani-Oskooee 等人提供的结果进行比较,后者允许尖锐和平滑的中断。我们的分析使用了 G7 国家在 1965-2016 年间的数据。实证结果表明,虽然传统的带有尖锐中断的单位根检验倾向于所有 G7 国家的序列的非平稳性,但我们单位根检验方法中的建模中断可以断言,只有加拿大的天然气消耗是非平稳的,法国、意大利和美国。这些结果意味着,对于我们的大多数样本,旨在减少能源消耗的能源需求管理政策将产生暂时的影响,因为能源消耗将回归其趋势路径。
更新日期:2019-03-21
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