El consumo de energía y la economía mexicana. un análisis empírico con VAR

Luis Miguel Galindo () and Luis Sánchez
Additional contact information
Luis Miguel Galindo: Facultad de Economía, UNAM
Luis Sánchez: Facultad de Economía, UNAM

Economía Mexicana NUEVA ÉPOCA, 2005, vol. XIV, issue 2, 271-298

Abstract: The main objective of this study is to analyze the relationships between consumption of energy, output, relative prices of energy and employment in Mexico over the period 1965-2001. The main results indicate that there is at least one cointegrating vector implying one longterm stable relationship between energy consumption, output, relative prices and employment. This cointegrating vector, which was obtained by the Johansen (1988) procedure and corrected for possible structural changes using the method proposed by Hansen and Johansen (1993), has coefficients that can be interpreted according to the economic theory as a demand function and that suggest energy and employment are substitute goods. The weak exogeneity tests show the existence of a close relationship between consumption of energy and output, meanwhile the relative prices and employment are weak exogenous. The Granger non-causality tests indicate a bi-directional relationship between the changes of output and energy consumption and the presence of a complex feedback process between all the variables included in the analysis that must be considered in order to design an energy control public policy. In this sense, the simultaneous movements among energy, income and employment suggest that any energy control policy might also influence the trajectory of output and employment.

Keywords: energy; output; employment; causality (search for similar items in EconPapers)
Date: 2005
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.economiamexicana.cide.edu/num_anteriores/XIV-2/MIGUEL_GALINDO.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:emc:ecomex:v:14:y:2005:i:2:p:271-298

Access Statistics for this article

Economía Mexicana NUEVA ÉPOCA is currently edited by Juan Rosellón

More articles in Economía Mexicana NUEVA ÉPOCA from CIDE, División de Economía Contact information at EDIRC.
Bibliographic data for series maintained by Ricardo Tiscareño ( this e-mail address is bad, please contact ).