Spurious relationships for energy patents using various dependency measures: the case of G7 countries

Nikolaos Agiakloglou and Nikolaos Georgopoulos ()
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Nikolaos Agiakloglou: University of Piraeus
Nikolaos Georgopoulos: University of Piraeus

Journal of Economics and Finance, 2025, vol. 49, issue 4, No 2, 942-962

Abstract: Abstract The aim of this study is to investigate the performance of various dependency measures, including Copulas, for moderate time series sizes, in correctly identifying relationships between energy patents and other technological, environmental, energy and macroeconomic variables for the G7 countries. The results show spurious relationships in the values of the variables, while in first differences a uniform behavior for all countries was detected for the relationships of energy patents with only a few variables. Most importantly, Copulas performed very well for this moderate sample size, following to some extent the behavior of the correlation coefficient, although their magnitude is difficult to interpret.

Keywords: Spurious correlation; Copulas; Energy patents; Environmental and macroeconomic variables; Time series econometric analysis (search for similar items in EconPapers)
JEL-codes: C22 Q20 Q43 Q50 Q55 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s12197-025-09730-0

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