The volatility of global energy uncertainty: Renewable alternatives

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F24%3A43907928" target="_blank" >RIV/60076658:12510/24:43907928 - isvavai.cz</a>

Result on the web

<a href="http://10.1016/j.energy.2024.131250" target="_blank" >http://10.1016/j.energy.2024.131250</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.energy.2024.131250" target="_blank" >10.1016/j.energy.2024.131250</a>

Result language

angličtina

Original language name

The volatility of global energy uncertainty: Renewable alternatives

Original language description

Fluctuations in energy markets affect all economic activities by affecting energy prices and investment decisions. This study is the first attempt to investigate the energy-related uncertainty (volatility) in the world using the newly developed energy-related uncertainty index (EUI). The ARCH (autoregressive conditional heteroskedasticity) and GARCH (generalized autoregressive conditional heteroskedasticity) models are applied for this investigation between 1996 and 2021. The ARCH model reveals that global energy uncertainty is highly volatile, with a coefficient of 0.63. As policy implications, fostering the transition process to renewable energy and a green economy is recommended. The rise of renewable energy can reduce energy dependency and uncertainty in energy markets since they are less sensitive to exogenous shocks and fossil fuel price fluctuations. Understanding this uncertainty helps policymakers develop more effective energy policies, increase energy security and a sustainable environment, and maintain economic stability. The proposal to increase renewable energy in this study also aligns with the United Nation&apos;s SDG7 (Affordable and Clean Energy), which aims to improve the share of renewable energy by 2030.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

—

OECD FORD branch

50202 - Applied Economics, Econometrics

Project

—

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2024

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Energy

ISSN

0360-5442

e-ISSN

1873-6785

Volume of the periodical

297

Issue of the periodical within the volume

June 2024

Country of publishing house

GB - UNITED KINGDOM

Number of pages

8

Pages from-to

131250

UT code for WoS article

001238612400001

EID of the result in the Scopus database

2-s2.0-85190275588