In this study, the analysis was that the capacity of creating inflation depends on oil prices as the one of energy types that is a major input of aggregate output which becomes a source of economic growth with increasing in costs. The aggregate output is also a function of energy that is the one...

This study aims to investigate Granger causality between renewable energy consumption (REC) and economic growth (EG) for USA. To accomplish this objective and to add the stronger evidence to the controversial issue, the tests were done under a new framework that embeds wavelet analysis, a novel...

In this paper, I extend the Hein and Stockhammer model of distribution and inflation by incorporating structural trends of financialization through three Kaleckian channels: (1) sectoral recomposition, (2) financial overhead costs and rentiers' profit claims, and (3) the bargaining power of...

Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to peak in mid-2022 and then decline, but to remain elevated...

The two oil shocks of the 1970s reduced the GDP growth rate, and since that period, sudden oil price increases have been considered as a major source of economic slowdown in the world. We thus estimate simple linear regression model (SLRM), dynamic regression model (DRM) and VAR model to...

The goal of this paper is to examine the impact of crude oil price movements on two macro variables, the gross domestic product (GDP) growth rate and the consumer price index (CPI) inflation rate, in three countries, the People's Republic of China (an emerging economy), Japan, and the United...

Using a modified DCC-MIDAS specification, we endogenize the long-term correlation between crude oil and stock price returns with respect to the stance of the U.S. macroeconomy. We find that variables which contain information on current and future economic activity are helpful predictors for...

This study examines the Granger causality between electricity consumption and Gross Domestic Product (GDP) for Pakistan using annual data covering the period 1971 to 2007. Augmented Dickey-Fuller test and Phillips-Perron test reveal that both the series, after logarithmic transformation, are...

This paper investigates the causal relationship between aggregated and disaggregated levels of energy consumption and economic growth for Greece for the period 1960-2006 through the application of a later development in the methodology of time series proposed by Toda and Yamamoto (1995). At...

This paper re-examines the causal nexus of energy utilization and GDP per capita in the US. The novelty of the paper is to allow for asymmetry in causality by using a new test introduced by Hatemi-J (forthcoming). A bootstrap procedure is used with leveraged corrections that perform more...