Energy, Vol.148, 537-545, 2018
Re-evaluating the energy consumption-economic growth nexus for the United States: An asymmetric threshold cointegration analysis
This paper examines the relationship between energy consumption and economic growth for the United States both at a country and at a sectoral level (Industry, Residential, Electric Power and Transportation) using an asymmetric threshold cointegration approach and monthly data from January 1991 to May 2016. Granger causality tests support a neutrality hypothesis for all sectors, except for the case of total consumption at the country level where a unidirectional causality is running from energy consumption to economic growth. (C) 2018 Elsevier Ltd. All rights reserved.
Keywords:Energy consumption;Economic growth;Threshold cointegration;Asymmetric error correction;United States