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Energy Consumption and Economic Growth in Sweden: A Leveraged Bootstrap Approach, 1965-2000

Abdulnasser Hatemi-J () and M. Irandoust ()

International Journal of Applied Econometrics and Quantitative Studies, 2005, vol. 2, issue 4, 87-98

Abstract: The causal interaction between energy consumption, real activity and the prices in the Swedish economy is investigated over the period 1965-2000. The leveraged bootstrap simulation technique is used to generate more reliable critical values for tests of Granger causality between integrated variables. The estimation results reveal that energy consumption does not cause economic activity but rather it is caused by economic activity. Also we find that prices cause both economic activity and energy consumption without feedback causal relationship from these variables. The policy implications of these causal findings are explained.

Keywords: Energy Consumption; Economic Growth; Leveraged Bootstrap Technique; Sweden (search for similar items in EconPapers)
JEL-codes: C32 Q43 (search for similar items in EconPapers)
Date: 2005
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