Energies 2015, 8(11), 12718-12728; doi:10.3390/en81112335
Are Shocks to Wood Fuel Production Permanent? Evidence from the EU
Economics Unit, Luleå University of Technology, SE-971 87 Luleå, Sweden
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Academic Editor: Thomas E. Amidon
Received: 31 August 2015 / Revised: 26 October 2015 / Accepted: 1 November 2015 / Published: 11 November 2015
(This article belongs to the Special Issue Economics of Bioenergy 2015)
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Abstract
This paper investigates whether shocks (economic effects) to wood fuel production for 18 countries of the European Union (EU) over the period 1961–2012 are temporary or persistent. A variety of time-series and panel data unit root tests are employed. The presence of structural breaks is taken into account when performing those tests. Wood production in approximately 78% of the countries is found to follow a non-stationary process supported by the result that most of the panel unit root tests also point towards a non-stationary process. This indicates that the economic effect will tend to be persistent and suggests that policies affecting wood fuel production, implicitly or explicitly, will have enduring effects. For instance, forest conservation policies will persistently reduce the wood fuel production level. View Full-Text
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Jaunky, V.C.; Lundmark, R. Are Shocks to Wood Fuel Production Permanent? Evidence from the EU. Energies 2015, 8, 12718-12728.
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