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Exploring the Dynamic Relationship Between Energy Efficiency, Trade, Economic Growth, and CO2 Emissions: Evidence From Novel Fourier ARDL Approach

Climate change, energy security, and volatile energy prices have been emerging as eminent threats worldwide. To overcome these concerns, energy efficiency could play a positive role. Hence, this study probes whether energy efficiency curbs CO2 emissions in the US, while controlling for trade, economic growth, and population. We use the Fourier-ADF and Fourier-LM tests to discern the unit-roots. Moreover, to render reliable findings, we rely on the novel Fourier ARDL model. The study divulges that energy efficiency plunges emissions in the long- and short-run. In particular, a 1% upsurge in energy efficiency impedes emissions by about 0.37% and 1.07% during the long- and short-term, respectively. Moreover, population and economic growth escalate emissions whether it is long- or short-run. Next, we document that trade upsurges emissions in the long-run. Also, we perform two types of sensitivity analysis to test whether our key results remain the same across different models/methods. Finally, we suggest escalating energy efficiency through investment and technological advancement. Moreover, import tariffs on renewables should be plunged while there should be relatively high tariffs on non-renewables.
- Wuhan University China (People's Republic of)
- Aligarh Muslim University India
- Zhengzhou University of Aeronautics China (People's Republic of)
- Hainan University China (People's Republic of)
- Yangzhou University China (People's Republic of)
Fourier unit root tests, CO2 emissions, Environmental sciences, Fourier ARDL model, STIRPAT model, GE1-350, energy efficiency, General Environmental Science
Fourier unit root tests, CO2 emissions, Environmental sciences, Fourier ARDL model, STIRPAT model, GE1-350, energy efficiency, General Environmental Science
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