Year 2020, Volume 1 , Issue 39, Pages 105 - 116 2020-06-30

Are Shocks to Energy Consumption in USA Permanent or Temporary? Sectoral Analysis
ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS

Burcu YAVUZ TİFTİKÇİGİL [1] , Burak GÜRİŞ [2]


Energy is one of the most important strategic factors for sustainable economic growth. Energy consumption is investigated within the framework of four sectors, i. e. residential sector, commercial sector, industrial sector and transport sector. The energy consumption levels of these sectors, long term consumption amounts and the sustainability of this consumption as well as whether these shocks are temporary or permanent play a role in the development of energy policies for countries. The energy consumption of the US, listed under the developed country category, has been increasing steadily in connection with its economic growth. In this respect, the purpose of this study is to analyze at the sectoral level whether the shocks in the USA’s sectoral energy consumption are temporary or permanent. The annual data over the period 1949 – 2014 are analyzed using the RALS LM unit root test method in this study investigating whether the shocks in total energy consumption in the US economy are temporary or permanent as per sectors. The study introduced two basic contributions to literature. The first contribution is that it is the first study in literature investigating the situation at the sectoral level in the US. The second contribution is the methodology used. The RALS LM unit root test offers two basic advantages. Firstly, the RALS LM test does not depend on the nuisance parameter and secondly, the RALS LM test utilizes information on non-normal errors. According to the analyses made, the shocks in energy consumption in the transport sector of the US have got a permanent impact.
Energy is one of the most important strategic factors for sustainable economic growth. Energy consumption is investigated within the framework of four sectors, i. e. residential sector, commercial sector, industrial sector and transport sector. The energy consumption levels of these sectors, long term consumption amounts and the sustainability of this consumption as well as whether these shocks are temporary or permanent play a role in the development of energy policies for countries. The energy consumption of the US, listed under the developed country category, has been increasing steadily in connection with its economic growth. In this respect, the purpose of this study is to analyze at the sectoral level whether the shocks in the USA’s sectoral energy consumption are temporary or permanent. The annual data over the period 1949 – 2014 are analyzed using the RALS LM unit root test method in this study investigating whether the shocks in total energy consumption in the US economy are temporary or permanent as per sectors. The study introduced two basic contributions to literature. The first contribution is that it is the first study in literature investigating the situation at the sectoral level in the US. The second contribution is the methodology used. The RALS LM unit root test offers two basic advantages. Firstly, the RALS LM test does not depend on the nuisance parameter and secondly, the RALS LM test utilizes information on non-normal errors. According to the analyses made, the shocks in energy consumption in the transport sector of the US have got a permanent impact.
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Primary Language en
Subjects Economics
Journal Section Articles
Authors

Orcid: 0000-0001-7422-6086
Author: Burcu YAVUZ TİFTİKÇİGİL (Primary Author)
Institution: ISTANBUL MEDIPOL UNIVERSITY
Country: Turkey


Orcid: 0000-0000-0000-0000
Author: Burak GÜRİŞ
Institution: İSTANBUL ÜNİVERSİTESİ
Country: Turkey


Dates

Publication Date : June 30, 2020

Bibtex @research article { kosbed664851, journal = {Kocaeli Üniversitesi Sosyal Bilimler Dergisi}, issn = {1302-6658}, address = {kosbed@kocaeli.edu.tr}, publisher = {Kocaeli University}, year = {2020}, volume = {1}, pages = {105 - 116}, doi = {10.35343/kosbed.664851}, title = {ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS}, key = {cite}, author = {Yavuz Ti̇fti̇kçi̇gi̇l, Burcu and Güri̇ş, Burak} }
APA Yavuz Ti̇fti̇kçi̇gi̇l, B , Güri̇ş, B . (2020). ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS . Kocaeli Üniversitesi Sosyal Bilimler Dergisi , 1 (39) , 105-116 . DOI: 10.35343/kosbed.664851
MLA Yavuz Ti̇fti̇kçi̇gi̇l, B , Güri̇ş, B . "ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS" . Kocaeli Üniversitesi Sosyal Bilimler Dergisi 1 (2020 ): 105-116 <https://dergipark.org.tr/en/pub/kosbed/issue/55815/664851>
Chicago Yavuz Ti̇fti̇kçi̇gi̇l, B , Güri̇ş, B . "ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS". Kocaeli Üniversitesi Sosyal Bilimler Dergisi 1 (2020 ): 105-116
RIS TY - JOUR T1 - ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS AU - Burcu Yavuz Ti̇fti̇kçi̇gi̇l , Burak Güri̇ş Y1 - 2020 PY - 2020 N1 - doi: 10.35343/kosbed.664851 DO - 10.35343/kosbed.664851 T2 - Kocaeli Üniversitesi Sosyal Bilimler Dergisi JF - Journal JO - JOR SP - 105 EP - 116 VL - 1 IS - 39 SN - 1302-6658- M3 - doi: 10.35343/kosbed.664851 UR - https://doi.org/10.35343/kosbed.664851 Y2 - 2020 ER -
EndNote %0 Kocaeli Üniversitesi Sosyal Bilimler Dergisi ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS %A Burcu Yavuz Ti̇fti̇kçi̇gi̇l , Burak Güri̇ş %T ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS %D 2020 %J Kocaeli Üniversitesi Sosyal Bilimler Dergisi %P 1302-6658- %V 1 %N 39 %R doi: 10.35343/kosbed.664851 %U 10.35343/kosbed.664851
ISNAD Yavuz Ti̇fti̇kçi̇gi̇l, Burcu , Güri̇ş, Burak . "ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS". Kocaeli Üniversitesi Sosyal Bilimler Dergisi 1 / 39 (June 2020): 105-116 . https://doi.org/10.35343/kosbed.664851
AMA Yavuz Ti̇fti̇kçi̇gi̇l B , Güri̇ş B . ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS. Kocaeli Üniversitesi Sosyal Bilimler Dergisi. 2020; 1(39): 105-116.
Vancouver Yavuz Ti̇fti̇kçi̇gi̇l B , Güri̇ş B . ARE SHOCKS TO ENERGY CONSUMPTION IN USA PERMANENT OR TEMPORARY?: SECTORAL ANALYSIS. Kocaeli Üniversitesi Sosyal Bilimler Dergisi. 2020; 1(39): 105-116.