Mean Reversion in CO2 Emissions: the Need for Structural Change

Peter Sephton ()

Environmental & Resource Economics, 2020, vol. 75, issue 4, No 10, 953-975

Abstract: Abstract This paper examines stochastic convergence of national and relative per capita CO2 emissions for a wide range of nations. It demonstrates that nearly all series are mean-reverting once allowance is made for non-linearity and the presence of serial correlation. The policy implications are far-reaching since the implication is that mitigation can be accomplished only through structural changes that alter the deterministic paths of emissions.

Keywords: Fractional integration; CO2 emissions; Chebyshev polynomials; Multivariate adaptive regression splines (search for similar items in EconPapers)
JEL-codes: C22 C32 Q28 Q50 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s10640-020-00413-4

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