Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks

Abstract: In this paper, long memory behavior of the energy consumption by source of the United States has been examined using the fractional integration technique for the three conventional cases of no regressors, an intercept, and an intercept and a linear trend. In addition, this study extends ma...

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Autor principal:	Adekoya,Oluwasegun B.
Lenguaje:	English
Publicado:	Universidad de Chile. Departamento de Economía 2020
Materias:	fractional integration structural breaks
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-52862020000100031
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spelling	oai:scielo:S0718-528620200001000312020-07-02Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural BreaksAdekoya,Oluwasegun B. fractional integration structural breaks fractional integration Abstract: In this paper, long memory behavior of the energy consumption by source of the United States has been examined using the fractional integration technique for the three conventional cases of no regressors, an intercept, and an intercept and a linear trend. In addition, this study extends majority of past studies by considering the effects of seasonality and structural breaks. Using monthly data, it is found that across all the sources considered, energy consumption exhibits long memory with the degree of persistence largely ranging between 0 and 1. Also, the estimated results of the models with seasonality effect and structural breaks show that the energy consumption series have significantly strong seasonal pattern and autoregressive components, and the presence of structural breaks significantly alter the degree of persistence of most of the energy sources. The reports of this study have serious policy implications in the aspect of energy consumption mix, energy consumption efficiency and environmental concerns.info:eu-repo/semantics/openAccessUniversidad de Chile. Departamento de EconomíaEstudios de economía v.47 n.1 20202020-06-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-52862020000100031en10.4067/S0718-52862020000100031
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	fractional integration structural breaks fractional integration
spellingShingle	fractional integration structural breaks fractional integration Adekoya,Oluwasegun B. Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks
description	Abstract: In this paper, long memory behavior of the energy consumption by source of the United States has been examined using the fractional integration technique for the three conventional cases of no regressors, an intercept, and an intercept and a linear trend. In addition, this study extends majority of past studies by considering the effects of seasonality and structural breaks. Using monthly data, it is found that across all the sources considered, energy consumption exhibits long memory with the degree of persistence largely ranging between 0 and 1. Also, the estimated results of the models with seasonality effect and structural breaks show that the energy consumption series have significantly strong seasonal pattern and autoregressive components, and the presence of structural breaks significantly alter the degree of persistence of most of the energy sources. The reports of this study have serious policy implications in the aspect of energy consumption mix, energy consumption efficiency and environmental concerns.
author	Adekoya,Oluwasegun B.
author_facet	Adekoya,Oluwasegun B.
author_sort	Adekoya,Oluwasegun B.
title	Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks
title_short	Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks
title_full	Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks
title_fullStr	Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks
title_full_unstemmed	Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks
title_sort	long memory in the energy consumption by source of the united states: fractional integration, seasonality effect and structural breaks
publisher	Universidad de Chile. Departamento de Economía
publishDate	2020
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-52862020000100031
work_keys_str_mv	AT adekoyaoluwasegunb longmemoryintheenergyconsumptionbysourceoftheunitedstatesfractionalintegrationseasonalityeffectandstructuralbreaks
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Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks

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