Pandemic outbreaks (COVID-19) and sectoral carbon emissions in the United States: A spillover effect evidence from Diebold and Yilmaz index

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dc.authoridalola, andrew/0000-0001-5355-3707
dc.authoridBekun, Festus Victor/0000-0003-4948-6905;
dc.contributor.authorAlola, Andrew Adewale
dc.contributor.authorBekun, Festus Victor
dc.date.accessioned2024-09-11T19:52:13Z
dc.date.available2024-09-11T19:52:13Z
dc.date.issued2021
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractThis article extend the body of knowledge in the environmental sustainability literature by exploring the spillover effect across the United States' carbon emissions from sectoral energy consumption: from the commercial sector (CEM), transport sector (TEM), industrial sector (IEM), residential sector (REM), electric power sector (EEM). From this perspective, this study accounted for world pandemic uncertainty index (WPU) in retrospect of global episodes (coronavirus pandemic), crude oil price (WTI), and disposable income per capita (DIC). To this end, the novel spillover methodology of Diebold and Yilmaz is employed in the context of the United State for the period January 1996-February 2020. Our Study shows that total spillover effect from the forecast error variance decomposition (FEVD) is 51.1%, while the rest 48.9% of the forecast variance is attributed to the idiosyncratic shocks. Furthermore, a significant contribution of 113.9% spillover effect from uncertainty due to pandemics to TME, IEM, REM, EEM, CEM, DIC, and WTI. Our study adds to the spillover index and computed the net spillover index between the outlined variables that shows the variance between the contribution of spillover to and from the spillover dynamics. Importantly, the study found that WTI, DIC, IEM, EEM, and CEM received a net spillover shock of 63.80%, 25.90%, 48.80%, 26.10%, and 53.3% from the total spillover index. However, WPU, TEM and REM are a net transmitter of spillover effect of 111.7%, 56.90%, and 48.50% respectively. These outcomes are instructive as decision-makers, stakeholders, and players in the energy sector and oil/energy market are required to pay more focus on sectors that are a net transmitter of spillover shocks such as the world pandemic uncertainty and as well those that are net receivers.en_US
dc.identifier.doi10.1177/0958305X20977275
dc.identifier.endpage955en_US
dc.identifier.issn0958-305X
dc.identifier.issn2048-4070
dc.identifier.issue5en_US
dc.identifier.scopus2-s2.0-85097264549en_US
dc.identifier.startpage945en_US
dc.identifier.urihttps://doi.org/10.1177/0958305X20977275
dc.identifier.urihttps://hdl.handle.net/11363/7929
dc.identifier.volume32en_US
dc.identifier.wosWOS:000626225600001en_US
dc.identifier.wosqualityQ3en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherSage Publications Ltden_US
dc.relation.ispartofEnergy & Environmenten_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.snmz20240903_Gen_US
dc.subjectPandemicen_US
dc.subjectVAR modelen_US
dc.subjectenvironmental sustainability United Stateen_US
dc.titlePandemic outbreaks (COVID-19) and sectoral carbon emissions in the United States: A spillover effect evidence from Diebold and Yilmaz indexen_US
dc.typeArticleen_US

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