Can household energy efficiency dampen crude oil price volatility in the United States?

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Tarih

2025

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

PUBLIC LIBRARY SCIENCE, 1160 BATTERY STREET, STE 100, SAN FRANCISCO, CA 94111

Erişim Hakkı

info:eu-repo/semantics/openAccess

Özet

Even though the effect of oil price shocks on macroeconomics has been extensively investigated, the literature on how efficiency in household energy use affect crude oil price volatility is yet explored. This study unveils whether household energy efficiency lower crude oil price volatility asymmetrically in the United States using the historical and forecast dataset that spans from 1970:Q1-2040:Q1. Applying the multivariate case of Quantile-on-Quantile Regression, the empirical results show that household energy efficiency dampens crude oil price volatility with a stronger connection in quantiles before the median quantiles of crude oil price volatility. However, the effect of household energy efficiency decreases with an increase across quantiles of the crude oil price volatility. The results further show that energy-related CO2 emissions and retail electricity price intensify crude oil price volatility with varying effects across quantiles. These findings are similar to the sensitivity analysis and robustness checks. Overall, the policy implication of our findings is that government and policymakers need to demonstrate unequivocal commitments to improving not only energyefficient practices at household level but also to mitigate energy-related environmental disasters.

Açıklama

Anahtar Kelimeler

UNCERTAINTY, POLICY

Kaynak

PLOS ONE

WoS Q Değeri

Q2

Scopus Q Değeri

Cilt

20

Sayı

1

Künye

Usman O, Ozkan O, Nwani C, Bekun FV, Alola AA (2025) Can household energy efficiency dampen crude oil price volatility in the United States? PLoS ONE 20(1): e0307840. https://doi. org/10.1371/journal.pone.0307840