Stochastic convergence in per capita fossil fuel consumption in U.S. states |
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| Affiliation: | 1. J. Whitney Bunting College of Business, Georgia College & State University, Milledgeville, GA 31061, United States;2. The Institute of Economics Zagreb, Zagreb, Croatia;3. Department of Economics, Finance and Legal Studies, University of Alabama, Tuscaloosa, AL 35486, United States;1. North Dakota State University, Department of Agribusiness and Applied Economics, Dept. 7610, Fargo, ND 58108-6050, United States;2. North Dakota State University, Department of Agribusiness and Applied Economics, United States;1. Centre for Economics and Financial Econometrics Research, Deakin Business School, Deakin University, 221 Burwood Highway, Burwood, Victoria 3125, Australia;2. School of Economics, Finance & Marketing, Royal Melbourne Institute of Technology University, Melbourne, Australia;1. Department of Banking and Financial Management, University of Piraeus, Piraeus, Greece;2. Rawls College of Business, Texas Tech University, Lubbock, TX 79409, United States;3. J. Whitney Bunting College of Business, Georgia College & State University, Milledgeville, GA 31061, United States;1. Department of Banking and Financial Management, University of Piraeus, Greece;2. Department of Economics and Management, University of Padua, Via del Santo 33, I-35123 Padua, Italy;3. School of Economics and Finance, Curtin University, Kent St, Bentley 6102, WA, Australia |
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| Abstract: | This study examines the stochastic convergence of per capita fossil fuel consumption across U.S. states (including the District of Columbia) utilizing LM and RALS-LM unit root tests with allowance for endogenously determined structural breaks. Our results indicate that with the exception of Nevada, the evidence from two-break and one-break LM and RALS-LM unit root tests rejects the null hypothesis of a unit root in the relative per capita fossil fuel consumption in the U.S. This finding indicates the presence of stochastic convergence in relative per capita fossil fuel consumption in the U.S. states. |
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