Department of Business Administration, College of Business Administration, Majmaah University, Al-Majmaah, 11952, Saudi Arabia.
Faculty of Economics and Management in Nabeul, University of Carthage, Tunis, Tunisia.
Environ Sci Pollut Res Int. 2023 Apr;30(18):52288-52303. doi: 10.1007/s11356-023-25899-5. Epub 2023 Feb 24.
This study investigates the Granger causal interplays between renewable energy consumption, WTI crude oil prices, and CO emissions in the USA using monthly data between January 1986 and May 2022. The study applies quantile-based techniques, namely, the quantile unit root test developed by Galvao (2009), the quantile cointegration test proposed by Xiao (2009), and the novel Granger causality-in-quantiles test suggested by Troster (2018). The results suggest that the series display a unit root across different quantiles and that the cointegration relationships exhibit heterogeneous behavior across quantiles. Regarding the causal linkages, the findings show: (i) a unidirectional causality from renewable energy consumption to oil prices, mainly at the lowest or highest quantiles of the distribution, (ii) a bidirectional causality between oil prices and CO emissions mainly in the middle and extreme quantiles, but there is evidence of causality from oil prices to CO emissions across the quantiles than in the reverse direction, and (iii) a unidirectional causality from renewable energy consumption to CO emissions at the lowest to medium and the highest quantiles. These findings have important implications for policy-makers.
本研究使用 1986 年 1 月至 2022 年 5 月的月度数据，考察了美国可再生能源消费、WTI 原油价格和 CO2 排放之间的格兰杰因果关系。研究采用了基于分位数的技术，即 Galvao（2009）提出的分位数单位根检验、Xiao（2009）提出的分位数协整检验和 Troster（2018）提出的新的分位数格兰杰因果检验。结果表明，这些序列在不同分位数上存在单位根，并且协整关系在分位数上表现出异质性。关于因果关系，研究结果表明：（i）可再生能源消费对油价具有单向因果关系，主要在分布的最低或最高分位数上；（ii）油价和 CO2 排放之间存在双向因果关系，主要在中间和极值分位数上，但有证据表明，油价对 CO2 排放的因果关系在分位数上比在相反方向上更为明显；（iii）可再生能源消费对 CO2 排放具有单向因果关系，从最低到中等和最高分位数。这些发现对政策制定者具有重要意义。
