The volatility of global energy uncertainty: Renewable alternatives
Identifikátory výsledku
Kód výsledku v 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>
Výsledek na webu
<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>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
The volatility of global energy uncertainty: Renewable alternatives
Popis výsledku v původním jazyce
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's SDG7 (Affordable and Clean Energy), which aims to improve the share of renewable energy by 2030.
Název v anglickém jazyce
The volatility of global energy uncertainty: Renewable alternatives
Popis výsledku anglicky
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's SDG7 (Affordable and Clean Energy), which aims to improve the share of renewable energy by 2030.
Klasifikace
Druh
J<sub>imp</sub> - Článek v periodiku v databázi Web of Science
CEP obor
—
OECD FORD obor
50202 - Applied Economics, Econometrics
Návaznosti výsledku
Projekt
—
Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2024
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
Energy
ISSN
0360-5442
e-ISSN
1873-6785
Svazek periodika
297
Číslo periodika v rámci svazku
June 2024
Stát vydavatele periodika
GB - Spojené království Velké Británie a Severního Irska
Počet stran výsledku
8
Strana od-do
131250
Kód UT WoS článku
001238612400001
EID výsledku v databázi Scopus
2-s2.0-85190275588