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Estudios de economía

versão On-line ISSN 0718-5286

Estudios de Economía vol.47 no.1 Santiago jun. 2020

http://dx.doi.org/10.4067/S0718-52862020000100031 

Artículos

Long Memory in the Energy Consumption by Source of the United States: Fractional Integration, Seasonality Effect and Structural Breaks

Memoria Larga en el Consumo de Energía en Estados Unidos: Integración Fraccional, Estacionalidad y Quiebres Estructurales

Oluwasegun B. Adekoya1 

1Federal University of Agriculture. Nigeria

Abstract:

In this paper, long memory behavior of the energy consumption by source of the United States has been examined using the fractional integration technique for the three conventional cases of no regressors, an intercept, and an intercept and a linear trend. In addition, this study extends majority of past studies by considering the effects of seasonality and structural breaks. Using monthly data, it is found that across all the sources considered, energy consumption exhibits long memory with the degree of persistence largely ranging between 0 and 1. Also, the estimated results of the models with seasonality effect and structural breaks show that the energy consumption series have significantly strong seasonal pattern and autoregressive components, and the presence of structural breaks significantly alter the degree of persistence of most of the energy sources. The reports of this study have serious policy implications in the aspect of energy consumption mix, energy consumption efficiency and environmental concerns.

Keywords: fractional integration; structural breaks; fractional integration

Resumen:

Este trabajo examina el comportamiento de memoria larga del consumo de energía en Estados Unidos utilizando la técnica de integración fraccional. Este estudio extiende trabajos pasados incluyendo un análisis de estacionalidad y de quiebres estructurales. Utilizando datos mensuales se observa que todas las fuentes de consumo de energía consideradas exhiben memoria larga, estacio- nalidad y quiebres.

Palabras clave: Memoria larga; integración fraccional; quiebres estructurales

Full text available only in PDF format.

Texto completo disponible sólo en PDF.

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Received: July 0, 2019; Accepted: October 0, 2019

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