Time-varying characteristics of the simultaneous interactions between economic uncertainty, international oil prices and GDP: A novel approach for Germany
“…5 (C) and (D). This is consistent with the findings of Tunc, Kocoglu and Aslan [ 57 ] who indicated that GDP in Germany is susceptible to uncertainty shocks with a protracted influence during the 2008 Global Financial crisis across economic horizons. Fig.…”
“…5 (C) and (D). This is consistent with the findings of Tunc, Kocoglu and Aslan [ 57 ] who indicated that GDP in Germany is susceptible to uncertainty shocks with a protracted influence during the 2008 Global Financial crisis across economic horizons. Fig.…”
“…This approach has gained support from authoritative and cutting-edge research, which provides empirical evidence for the use of GDP standard deviation as a valuable metric for assessing economic uncertainty. In their influential study, Tunc et al [41] explored the relationship between GDP volatility and economic uncertainty, emphasizing the importance of understanding and managing uncertainty for sustainable growth. Moreover, Gupta [42] investigated the impact of economic uncertainty on investment decisions, highlighting the role of GDP standard deviation as a key factor influencing investment behavior.…”
This study delves into the intricate interplay between digitization, economic uncertainty, and environmental sustainability, aiming to shed light on their multifaceted roles. Using an approach, the analysis spans 28 Chinese provinces over the period from 2000 to 2020, employing linear and nonlinear autoregressive distributed lag techniques to unveil symmetric and asymmetric impacts. The findings reveal the urgent need to address the challenges posed by economic uncertainty for effective environmental sustainability. Notably, a negative association between digitization and carbon dioxide emissions is identified, emphasizing its transformative potential in driving energy efficiency and sustainable practices. Furthermore, the study elucidates the detrimental influence of industrial structure on carbon dioxide emissions, highlighting the importance of balancing economic growth and environmental sustainability. The positive influence of urbanization on carbon dioxide emissions underscores the complexities of achieving sustainable development amidst rapid urbanization. By providing a comprehensive understanding of these dimensions, this study contributes to the scholarly discourse and aids in formulating evidence-based strategies for a greener and more sustainable future. The insights gained from this research can guide policymakers and stakeholders in navigating the complex dynamics between digitization, economic uncertainty, and environmental sustainability, fostering a more sustainable and resilient world.
“…The world's existing ecological, economic, and political situation requires fossil fuel dependency and accelerates the development of renewable energy sources. However, the unprecedented increase in energy consumption retrained the oil price effect at a high level, which is a major source of uncertainty (Tunc et al, 2022). Therefore, this paper estimated the volatility spillover of global oil price uncertainty using econometric tools, especially ARCH/ GARCH models.…”
This manuscript, for the first time, analyses the volatility spillover of oil price uncertainty in the world using data from oil price uncertainty recently developed by Abdul and Qureshi (2023), spanning the time 1996-2019 on a monthly frequency. ARCH/GARCH (Autoregressive Conditional Heteroskedasticity and Generalized Autoregressive Conditional Heteroskedasticity) models are employed as an econometric tool. The findings suggest that ARCH model is more consistent than GARCH model in assessing the volatility of oil price uncertainty in the world. The results show that the volatility of oil price uncertainty is high in the world. The transition to renewable energy sources is proposed as a way to resist unexpected oil shocks since the production of renewables does not depend on the fluctuations of oil prices. Consequently, uncertainties in the oil price do not hinder economic activities.
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