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Industrial Energy Consumption and Business Cycles in Iran
(1973-2015)
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Abstract: (4087 Views) |
Energy is one of the factors of production and on the other side energy consumption directly affects GDP. This paper reviews the interaction between industrial energy consumption and the cyclical industrial value added over the period 1973-2015. Causality tests indicate the presence of one-sided causality from the industrial value added to the industrial energy consumption. Then, trend and cyclical components of energy consumption and industrial value added were decomposed. By using new data, unilateral causality among trend and cyclical components of energy consumption and industrial value added was confirmed. This refers to the fact that industrial production fluctuations can cause fluctuations in energy consumption.
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| Keywords: Energy Consumption, Industrial Production, Business Cycles, Granger Causality Test, Hodrick–Prescott (HP) Filter |
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Full-Text [PDF 1235 kb]
(1188 Downloads)
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Type of Study: Research |
Subject:
Special
Received: 2017/07/4 | Accepted: 2017/07/4 | Published: 2017/07/4
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