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Income and time related effects in EKC

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  • Massimiliano Mazzanti
  • Antonio Musolesi
Abstract
This paper documents the structural differences between climate change leading `actors' as Northern EU countries, and `lagging actors' - southern EU countries and the `Umbrella group' - with regard to their long run carbon-income relationships. We show that such categorization gives relevant policy and methodological insights. We investigate the issue of cross-country heterogeneity and the heterogeneity biases associated to standard panel data estimates but also disentangle time related and income effects. Parametric and semi parametric panel models allowing for time invariant unobserved heterogeneity robustly show that the groups of countries that were in the `Kyoto arena' less in favour of stringent climate policy, have yet to experience a turning point. Northern EU instead shows bell shapes. The key result is however obtained by estimating a semi-parametric random growth model. Country specific time related factors - that may represent latent innovation and policy features of countries - have been relatively more relevant than income effects in explaining the occurrence of such Kuznets curves. Overall, the countries differ more on their carbon-time relation than on the carbon-income relation which is in almost all cases monotonic positive. Just a few Nordic countries show a bell curve in both income and time related factors.

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  • Massimiliano Mazzanti & Antonio Musolesi, 2011. "Income and time related effects in EKC," Working Papers 201105, University of Ferrara, Department of Economics.
    • Handle: RePEc:udf:wpaper:201105
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    2. Piaggio, Matías & Padilla, Emilio, 2012. "CO2 emissions and economic activity: Heterogeneity across countries and non-stationary series," Energy Policy, Elsevier, vol. 46(C), pages 370-381.
    3. Halkos, George, 2011. "Economy - environment relationship: The case of sulphur emissions," MPRA Paper 45480, University Library of Munich, Germany.
    4. Piaggio, Matías & Padilla, Emilio & Román, Carolina, 2017. "The long-term relationship between CO2 emissions and economic activity in a small open economy: Uruguay 1882–2010," Energy Economics, Elsevier, vol. 65(C), pages 271-282.

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    More about this item

    Keywords

    Carbon Kuznets Curves; heterogeneous panels; semi parametric models; random growth; income effect; time related effect;
    All these keywords.

    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

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