Title: Economic growth, energy consumption and carbon emissions: Evidence from statistically identified panel SVARs
Authors: Simone Maxand - University of Helsinki (Finland) [presenting]
Abstract: In the light of intensifying discussions on climate risks, the detection of global and local causal structures between economic and environmental variables becomes increasingly interesting. In this respect, the outcome is twofold. First, we advance panel VAR methodologies by statistical identification based on group independent component analysis techniques. On different cross-section levels this allows for the interpretation of either country- or region-specific structural shocks. In a second step, these panel SVAR techniques provide a powerful tool to derive new insights on the interconnection of economic growth, energy consumption and carbon emissions at global and regional levels.