Are shocks to disaggregated energy consumption transitory or permanent in Turkey? New evidence from fourier panel KPSS test

Erdoğan, Sinan; Akalin, Güray; Oypan, Oğuz

doi:10.1016/j.energy.2020.117174

Cited by 40 publications

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References 62 publications

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“…In addition, it is not necessary to exogenously determine the number of structural changes. Using methods that follow different strategies, such as factor modeling and principal component approaches, we can better capture the factors that lead to CSD (Erdogan et al, 2020 ). Therefore, we employed a panel stationarity test with smooth shift (Nazlioglu & Karul, 2017 ) and recently proposed the Fourier- PANIC method (Nazlioglu et al, 2021 ).…”

Section: Methodsmentioning

confidence: 99%

Convergence of Income Inequality in OECD Countries Since 1870: A Multi-Method Approach with Structural Changes

2023

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This paper aims to examine convergence of income inequality in 21 OECD countries using several empirical techniques. In particular, we have used a new panel stationarity test, which allows for structural changes and cross-sectional dependence to examine the stochastic convergence of income inequality. We also employed a time series approach, residual augmented least squares-Lagrange multiplier unit root test. The empirical results show evidence for absolute, conditional, and sigma convergence. The conditional convergence test results suggest that countries are converging, but conditional on the two structural factors-economic and population growth. The stochastic convergence test results indicate the existence of convergence at the country-specific level. The results further confirm the existence of convergent clubs among OECD countries.

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Section: Methodsmentioning

confidence: 99%

Convergence of Income Inequality in OECD Countries Since 1870: A Multi-Method Approach with Structural Changes

2023

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“…It is well known in the empirical literature that ignoring possible cross-section dependence—which frequently occurs in panel data analysis, could cause biased estimations and false hypothesis testing (Chudik and Pesaran 2013 ; Erdogan et al 2020 ; Sarafidis et al 2009 ). Hence, initial analyses are required before implementing panel data analysis.…”

Section: Methodsmentioning

confidence: 99%

Trading Kuznets curve: empirical analysis for China

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Due to inspiring growth over the past 20 years, the dynamics of Chinese exports have been the focus of many researchers. In contrast to current literature, this study examines the quadratic relationship between China’s real exports to 154 partner countries and the income of trading partners from 1996 to 2019. The findings obtained from the second generational econometric analysis confirm cross-section dependence and heterogeneous slope among panel members. Second, while the GDP per capita of partner countries has a positive impact on China’s exports, the quadratic of GDP per capita has a negative impact. These findings indicate an inverted U-shaped relationship between China’s exports and GDP per capita of its partner countries—thus, validating the trading Kuznets curve (TKC) hypothesis. The appreciation of the Renminbi (RMB) has statistically significant negative effects on China’s exports. From a policy perspective, Chinese policymakers could consider the TKC hypothesis when determining market and export strategies. Additionally, the Chinese monetary authority could consider stabilizing the value of the RMB.

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“…Subsequently, Lee et al (2015), on the other hand, developed a panel version of the Fourier DF‐type test, which allows smooth transitions in the deterministic term, which they modeled with the Fourier function, following the approach of Enders and Lee (2012b). Lee et al (2015), the Fourier Panel KPSS test, developed by Nazlıoğlu and Karul (2017), is a test that detects possible soft‐transition breaks and considers cross‐section dependence with the bootstrap approach, allowing heterogeneity between cross‐sections (Erdoğan, Akalın, & Oypan, 2020). This test provides an advantage by combining soft structural breaks with intrinsic hard structural breaks (Tiwari et al, 2021).…”

Section: Data Set and Methodologymentioning

confidence: 99%

Winner or loser? The asymmetric role of natural resource rents on financial development among resource‐rich countries

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The resource curse theory has become a paradox that has been discussed for many years in the literature. Because most studies have revealed empirical evidence that resource rents negatively affect financial development although resource wealth provides many advantages. Therefore, studies on whether studies conducted with different methods in different periods can produce results contrary to this theory are continuing. This study aims to test the asymmetric effect of natural resource rents on financial development among resource-rich countries. The study investigated the data of 10 countries those have the highest natural resource rents in the World that selected from World Atlas (2018) for the period 1993-2017. As a result of empirical analysis, this study proved that there was a financial resource curse hypothesis among resource-rich countries. While positive shocks are effecting financial development negatively, negative shocks are found as effecting financial development positively. This study also showed that resource-rich countries are lucky but not a winner in the context of financial development and sustainable development.

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Are shocks to disaggregated energy consumption transitory or permanent in Turkey? New evidence from fourier panel KPSS test

Cited by 40 publications

References 62 publications

Convergence of Income Inequality in OECD Countries Since 1870: A Multi-Method Approach with Structural Changes

Convergence of Income Inequality in OECD Countries Since 1870: A Multi-Method Approach with Structural Changes

Trading Kuznets curve: empirical analysis for China

Winner or loser? The asymmetric role of natural resource rents on financial development among resource‐rich countries

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