The Stochastic Convergence of CO2 Emissions: A Long Memory Approach

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The Stochastic Convergence of CO2 Emissions: A Long Memory Approach. / Barassi, Marco; Cole, Matthew; Elliott, Robert.

In: Environmental and Resource Economics, Vol. 49, No. 3, 01.07.2011, p. 367-385.

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@article{4c9caffcb7714ef18ea5e2391d5db4b4,
title = "The Stochastic Convergence of CO2 Emissions: A Long Memory Approach",
abstract = "In response to equity concerns surrounding the spatial distribution of CO2 emissions and assumptions of CO2 convergence within some climate models, this paper examines the convergence of CO2 emissions within the OECD over the period 1870-2004. More specifically, using the Local Whittle estimator and its variants we examine whether relative per capita CO2 emissions are fractionally integrated, that is they are long memory processes which, although highly persistant, may revert to the mean/trend in the long run. Our results suggest that CO2 emissions within 13 out of 18 OECD countries are indeed fractionally integrated implying that they converge over time, albeit slowly. Interestingly though, the countries whose emissions are not found to be fractionally integrated are some of the highest polluters within the OECD, at least in per capita terms. Our results have implications both for future studies of CO2 convergence and for climate policy.",
keywords = "Local Whittle estimation, Fractional integration",
author = "Marco Barassi and Matthew Cole and Robert Elliott",
year = "2011",
month = jul,
day = "1",
doi = "10.1007/s10640-010-9437-7",
language = "English",
volume = "49",
pages = "367--385",
journal = "Environmental and Resource Economics",
issn = "0924-6460",
publisher = "Springer",
number = "3",

}

RIS

TY - JOUR

T1 - The Stochastic Convergence of CO2 Emissions: A Long Memory Approach

AU - Barassi, Marco

AU - Cole, Matthew

AU - Elliott, Robert

PY - 2011/7/1

Y1 - 2011/7/1

N2 - In response to equity concerns surrounding the spatial distribution of CO2 emissions and assumptions of CO2 convergence within some climate models, this paper examines the convergence of CO2 emissions within the OECD over the period 1870-2004. More specifically, using the Local Whittle estimator and its variants we examine whether relative per capita CO2 emissions are fractionally integrated, that is they are long memory processes which, although highly persistant, may revert to the mean/trend in the long run. Our results suggest that CO2 emissions within 13 out of 18 OECD countries are indeed fractionally integrated implying that they converge over time, albeit slowly. Interestingly though, the countries whose emissions are not found to be fractionally integrated are some of the highest polluters within the OECD, at least in per capita terms. Our results have implications both for future studies of CO2 convergence and for climate policy.

AB - In response to equity concerns surrounding the spatial distribution of CO2 emissions and assumptions of CO2 convergence within some climate models, this paper examines the convergence of CO2 emissions within the OECD over the period 1870-2004. More specifically, using the Local Whittle estimator and its variants we examine whether relative per capita CO2 emissions are fractionally integrated, that is they are long memory processes which, although highly persistant, may revert to the mean/trend in the long run. Our results suggest that CO2 emissions within 13 out of 18 OECD countries are indeed fractionally integrated implying that they converge over time, albeit slowly. Interestingly though, the countries whose emissions are not found to be fractionally integrated are some of the highest polluters within the OECD, at least in per capita terms. Our results have implications both for future studies of CO2 convergence and for climate policy.

KW - Local Whittle estimation

KW - Fractional integration

U2 - 10.1007/s10640-010-9437-7

DO - 10.1007/s10640-010-9437-7

M3 - Article

VL - 49

SP - 367

EP - 385

JO - Environmental and Resource Economics

JF - Environmental and Resource Economics

SN - 0924-6460

IS - 3

ER -