Evidence of long memory behavior in U.S. renewable energy consumption

被引：52

作者：

Barros, Carlos Pestana ^{[2
]}

Gil-Alana, Luis A. ^{[1
]}

Payne, James E. ^{[3
]}

机构：

[1] Univ Navarra, Fac Econ, E-31080 Pamplona, Spain

[2] Univ Tecn Lisboa, Lisbon, Portugal

[3] Univ S Florida Polytech, Alternat Energy Res Ctr, Lakeland, FL 33803 USA

来源：

ENERGY POLICY | 2012年 / 41卷

关键词：

Renewable energy consumption; Long memory; Persistence; MAXIMUM-LIKELIHOOD-ESTIMATION; LOCAL WHITTLE ESTIMATION; UNIT-ROOT; FRACTIONAL-INTEGRATION; PERMANENT EVIDENCE; STRUCTURAL BREAKS; CRUDE-OIL; PANEL; NONSTATIONARY; TEMPORARY;

D O I：

10.1016/j.enpol.2011.11.052

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study examines the degrees of time persistence in U.S. total renewable energy consumption using innovative fractional integration and autoregressive models with monthly data from 1981:1 to 2010:10. The results indicate that renewable energy consumption is better explained in terms of a long memory model that incorporates persistence components and seasonality. The degree of integration is above 0.5 but significantly below 1.0, suggesting nonstationarity with mean reverting behavior. The presence of long memory behavior (persistence) in renewable energy consumption suggests that random shocks may very well move renewable energy consumption from pre-determined target levels for a period of time. (C) 2011 Elsevier Ltd. All rights reserved.

引用

页码：822 / 826

页数：5

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