This paper aims to investigate the heterogeneous patterns of clean energy consumption at business cycle frequencies from 1970 to 2017. Specifically, the paper provides a systematic analysis of this relationship in a comprehensive cross-country panel by extracting the cyclical components of the clean energy consumption and gross domestic product (GDP) series based on the Hodrick–Prescott filter. Focusing on the cyclical components, we conclude the stylised facts as follows: (a) clean energy consumption is procyclical in advanced economies and developing economies, but acyclical in the Organization of the Petroleum Exporting Countries (OPEC); (b) clean energy consumption is cyclically more volatile than GDP in a typical country; (c) the correlation between cyclicality of clean energy consumption and GDP per capita is more intricate in different country groups; and (d) clean energy consumption is positively correlated with the oil price in advanced economies and developing economies, and negatively correlated in OPEC. These stylised facts are potentially important for establishing empirical and theoretical models to exploit the consequences and impacts of clean energy consumption.

中文翻译：

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清洁能源消费和商业周期的证据：全球视角

本文旨在研究 1970 年至 2017 年商业周期频率下清洁能源消费的异质模式。 具体而言，本文通过提取清洁能源消费的周期性成分和基于 Hodrick-Prescott 过滤器的国内生产总值 (GDP) 系列。关注周期性成分，我们总结出以下典型事实： (a) 清洁能源消费在发达经济体和发展中经济体是顺周期性的，但在石油输出国组织 (OPEC) 是非周期性的；(b) 在典型国家，清洁能源消费的周期性波动大于 GDP；(c) 清洁能源消费的周期性与人均国内生产总值之间的相关性在不同的国家组中更为复杂；(d) 清洁能源消费与发达经济体和发展中经济体的油价呈正相关，而在欧佩克则呈负相关。这些程式化的事实对于建立经验和理论模型以利用清洁能源消费的后果和影响具有潜在的重要意义。