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A Multivariate Cointegration Analysis of the Role of Energy in the U.S. Macroeconomy

Stern, David

Description

This paper extends my previous analysis of the causal relationship of GDP and energy use in the USA in the post-war period to a cointegration analysis of that relationship. It is found that the majority of the relevant variables are integrated justifying a cointegration analysis. The results show that cointegration does occur and that energy input cannot be excluded from the cointegration space. The results are plausible in terms of macroeconomic dynamics. The results are similar to my previous...[Show more]

CollectionsANU Research Publications
Type: Working/Technical Paper
URI: http://hdl.handle.net/1885/40554
http://digitalcollections.anu.edu.au/handle/1885/40554
Source: Energy Economics

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