Economic activity and C02 emissions in Spain
Carbon dioxide (CO2) emissions, largely by-products of energy consumption, account for the largest share of greenhouse gases (GHG). The addition of GHG to the atmosphere disturbs the earth's radiative balance, leading to an increase in the earth's surface temperature and to related effects...
Main Authors: | , , |
---|---|
Other Authors: | |
Format: | Report |
Language: | English |
Published: |
2023
|
Subjects: | |
Online Access: | http://hdl.handle.net/10016/37975 |
id |
ftunivcarlosmadr:oai:e-archivo.uc3m.es:10016/37975 |
---|---|
record_format |
openpolar |
spelling |
ftunivcarlosmadr:oai:e-archivo.uc3m.es:10016/37975 2024-01-21T10:09:17+01:00 Economic activity and C02 emissions in Spain Juan, Aranzazu de Poncela, Maria Pilar Ruiz Ortega, Esther Universidad Carlos III de Madrid. Departamento de Estadística 2023-07-24 http://hdl.handle.net/10016/37975 eng eng Working paper Statistics and Econometrics 23-10 Gobierno de España. PID2019-108079GB-C21 2387-0303 http://hdl.handle.net/10016/37975 DT/0000002086 Atribución-NoComercial-SinDerivadas 3.0 España http://creativecommons.org/licenses/by-nc-nd/3.0/es/ Co2 Emissions Dynamic Factor Models Macroeconomic Activity Oriented Factors Time Series Variable Selection Estadística working paper 2023 ftunivcarlosmadr 2023-12-27T00:21:03Z Carbon dioxide (CO2) emissions, largely by-products of energy consumption, account for the largest share of greenhouse gases (GHG). The addition of GHG to the atmosphere disturbs the earth's radiative balance, leading to an increase in the earth's surface temperature and to related effects on climate, sea level rise, ocean acidification and world agriculture, among other effects. Forecasting and designing policies to curb CO2 emissions globally is gaining interest. In this paper, we look at the relationship between CO2 emissions and economic activity using Spanish data from 1964 to 2020. We consider a structural (contemporaneous) equation between selected indicators of economic activity and CO2 emissions, that we further augment with dynamic common factors extracted from a large macroeconomic database. We show that the way the common factors are extracted is crucial to exploit their information content. In particular, when using standard methods to extract the common factors from large data sets, once private consumption and maritime transportation are considered, the information contained in the macroeconomic data set has only negligible explanatory power for emissions. However, if we extract the common factors oriented towards CO2 emissions, they add valuable information not contained in the individual economic indicators. Report Ocean acidification Universidad Carlos III de Madrid: e-Archivo |
institution |
Open Polar |
collection |
Universidad Carlos III de Madrid: e-Archivo |
op_collection_id |
ftunivcarlosmadr |
language |
English |
topic |
Co2 Emissions Dynamic Factor Models Macroeconomic Activity Oriented Factors Time Series Variable Selection Estadística |
spellingShingle |
Co2 Emissions Dynamic Factor Models Macroeconomic Activity Oriented Factors Time Series Variable Selection Estadística Juan, Aranzazu de Poncela, Maria Pilar Ruiz Ortega, Esther Economic activity and C02 emissions in Spain |
topic_facet |
Co2 Emissions Dynamic Factor Models Macroeconomic Activity Oriented Factors Time Series Variable Selection Estadística |
description |
Carbon dioxide (CO2) emissions, largely by-products of energy consumption, account for the largest share of greenhouse gases (GHG). The addition of GHG to the atmosphere disturbs the earth's radiative balance, leading to an increase in the earth's surface temperature and to related effects on climate, sea level rise, ocean acidification and world agriculture, among other effects. Forecasting and designing policies to curb CO2 emissions globally is gaining interest. In this paper, we look at the relationship between CO2 emissions and economic activity using Spanish data from 1964 to 2020. We consider a structural (contemporaneous) equation between selected indicators of economic activity and CO2 emissions, that we further augment with dynamic common factors extracted from a large macroeconomic database. We show that the way the common factors are extracted is crucial to exploit their information content. In particular, when using standard methods to extract the common factors from large data sets, once private consumption and maritime transportation are considered, the information contained in the macroeconomic data set has only negligible explanatory power for emissions. However, if we extract the common factors oriented towards CO2 emissions, they add valuable information not contained in the individual economic indicators. |
author2 |
Universidad Carlos III de Madrid. Departamento de Estadística |
format |
Report |
author |
Juan, Aranzazu de Poncela, Maria Pilar Ruiz Ortega, Esther |
author_facet |
Juan, Aranzazu de Poncela, Maria Pilar Ruiz Ortega, Esther |
author_sort |
Juan, Aranzazu de |
title |
Economic activity and C02 emissions in Spain |
title_short |
Economic activity and C02 emissions in Spain |
title_full |
Economic activity and C02 emissions in Spain |
title_fullStr |
Economic activity and C02 emissions in Spain |
title_full_unstemmed |
Economic activity and C02 emissions in Spain |
title_sort |
economic activity and c02 emissions in spain |
publishDate |
2023 |
url |
http://hdl.handle.net/10016/37975 |
genre |
Ocean acidification |
genre_facet |
Ocean acidification |
op_relation |
Working paper Statistics and Econometrics 23-10 Gobierno de España. PID2019-108079GB-C21 2387-0303 http://hdl.handle.net/10016/37975 DT/0000002086 |
op_rights |
Atribución-NoComercial-SinDerivadas 3.0 España http://creativecommons.org/licenses/by-nc-nd/3.0/es/ |
_version_ |
1788700248850300928 |