Abstract
We carry out a meta-analysis of the very large literature on testing for Granger causality between energy use and economic output to determine if there is a genuine effect in this literature or whether the large number of apparently significant results is due to publication or misspecification bias. Our model extends the standard meta-regression model for detecting genuine effects in the presence of publication biases using the statistical power trace by controlling for the tendency to over-fit vector autoregression models in small samples. Granger causality tests in these over-fitted models have inflated type I errors. We cannot find a genuine causal effect in the literature as a whole. However, there is a robust genuine effect from output to energy use when energy prices are controlled for.
| Original language | English |
|---|---|
| Pages | 101-133 |
| Number of pages | 33 |
| Volume | 35 |
| No. | 4 |
| Specialist publication | Energy Journal |
| DOIs | |
| Publication status | Published - 2014 |
Fingerprint
Dive into the research topics of 'Is there really granger causality between energy use and output?'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver