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Does economic policy uncertainty matter for carbon emission? Evidence from US sector level data

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成果类型:
期刊论文
作者:
Jiang, Yong;Zhou, Zhongbao;Liu, Cenjie
通讯作者:
Liu, C.
作者机构:
[Jiang, Yong] Nanjing Audit Univ, Sch Finance, Yushan West Rd, Nanjing 211815, Jiangsu, Peoples R China.
[Zhou, Zhongbao] Hunan Univ, Business Sch, Yuelu South Rd, Changsha 410082, Hunan, Peoples R China.
[Liu, Cenjie] Hunan Agr Univ, Business Sch, Chang Nong Rd, Changsha 410128, Hunan, Peoples R China.
通讯机构:
Business School, Hunan Agricultural University, Chang Nong Road, Changsha, Hunan Province, China
语种:
英文
关键词:
CO2 emissions;Economic policy uncertainty;Granger causality in quantiles;US sector
期刊:
Environmental Science and Pollution Research
ISSN:
0944-1344
年:
2019
卷:
26
期:
24
页码:
24380-24394
基金类别:
National Natural Science Foundation of ChinaNational Natural Science Foundation of China (NSFC) [71771082, 71371067, 71431008]; Hunan Provincial Natural Science Foundation of ChinaNatural Science Foundation of Hunan Province [2017JJ1012]
机构署名:
本校为通讯机构
院系归属:
商学院
摘要:
Economic policy uncertainty (EPU) will affect the external business environment of economic entities, which in turn affects the decision-making of economic entities. Meanwhile, carbon emissions are closely related to the production decisions of microeconomic entities. Thus, studying the relationship between EPU and carbon emissions helps to clarify the impact of institutional factors behind carbon emissions, which is significant for achieving green development. Based on US sector data, we apply a novel parametric test of Granger causality in quantiles to analyze the relationship between EPU and carbon emissions (its growth and uncertainty). We find that there is an outstanding pattern of Granger-causality from the US EPU to the growth of carbon emissions in the tails of the growth distributions of carbon emissions in the industrial sector, residential sector, electric power sector, and transportation sector, except in the commercial sector. That is, carbon emissions are affected by EPU when the growth of carbon emissions is in a higher or lower growth period. Lastly, we find that the US EPU affects carbon emissions uncertainty over the entire conditional distribution for all sectors. © 2019, Springer-Verlag GmbH Germany, part of Springer Nature.

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