CO2 Emissions and Energy Technologies in Western Europe

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Barrera-Santana, Josué and Marrero, Gustavo A. and Puch, Luis A. and Díaz, Antonia (2021) CO2 Emissions and Energy Technologies in Western Europe. [ Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE); nº 07, 2021, ISSN: 2341-2356 ]

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Abstract

In this paper we investigate the path to the green transition in Europe. In so doing, we implement an empirical model of dynamic panel data on a sample of sixteen Western European countries over the period 1980 to 2019. The model is consistent with various features of neo- classical growth theory incorporating energy use. Our focus is on the short-run determinants of carbon emissions within that set of countries. We provide evidence that the relationship between economic activity and CO2 emissions is strong in economies where economic booms depend on energy intensive sectors. Also, the mitigating role of renewable energy technologies is key when energy intensity rebounds. These circumstances may constitute a challenge for the climate transition goals targeted in the EU’s Recovery Plan, whose main objective at this very moment is to mitigate the economic and social impact of the coronavirus pandemic.


Item Type:Working Paper or Technical Report
Additional Information:

We thank Pau Pujolas, Jesús Rodríguez-López and Jesús Ruiz for helpful comments, and seminar participants at ICAE-UCM and Universidad de Cantabria. We also acknowledge the Spanish Ministry of Science and Innovation (grant PID2019-107161GB) for financial support.
Corresponding Author: Luis A. Puch, ICAE, Universidad Complutense de Madrid, 28223 Madrid, Spain; E-mail:
lpuch@ccee.ucm.es

Uncontrolled Keywords:CO2 Emissions; Energy; Business Cycles; Panel Data.
Subjects:Social sciences > European Union
Social sciences > Economics > Econometrics
JEL:C23, Q43, Q5
Series Name:Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE)
Volume:2021
Number:07
ID Code:64889
Deposited On:15 Apr 2021 11:36
Last Modified:16 Apr 2021 10:26

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