Do COVID-19 Lock-Downs Affect Business Cycle? Analysis Using Energy Consumption Cycle Clock for Selected European Countries

Kufel, Tadeusz; Kufel, Paweł; Błażejowski, Marcin

doi:10.3390/en15010340

Cited by 13 publications

(9 citation statements)

References 59 publications

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“…PUN has been recognized as a source of reduced EC, common with other empirical work, like Bompard et al (2020), Olabi et al (2022), Dong et al (2021), andYasmeen et al (2022), that show that PUN reduces NREC and REC. Our findings of a negative PUN-NREC-REC interrelation are comparable with those of Kufel et al (2022) for the EU nations, Adebayo et al (2022) for the United Kingdom, and Akrofi and Antwi (2020) for African countries, all of which assert that PUN reduces EC. In addition, our conclusions differ from past examinations.…”

Section: Discussion Of Resultssupporting

confidence: 72%

Revealing the energy paradox: Assessing the asymmetric impact of pandemic uncertainty on consumption of renewable and nonrenewable energy

Lin,

Ali

et al. 2023

Risk Analysis

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Uncertainties have grown around the world during the last few decades. Pandemic uncertainty has a substantial impact on economic activities, which may have a big influence on energy consumption. The goal of this investigation is to appraise the asymmetric influence of pandemic uncertainty on nonrenewable and renewable energy consumption in the top 10 energy consumer economies of the European Union (Germany, Poland, Spain, Netherlands, France, Italy, Belgium, Sweden, Czech Republic, and Finland). Previously, panel data approaches were utilized to obtain reliable outcomes on the pandemic‐energy consumption nexus, regardless of the fact that various nations did not autonomously exhibit similar relationship. This investigation, on the other hand, implements a special technique “Quantile‐on‐Quantile” that supports us to appraise time‐series interdependence in each economy by providing international yet nation‐specific perceptions of the connection among the variables. Estimates show that pandemic uncertainty reduces both nonrenewable and renewable energy consumption in most selected nations at stated quantiles of the data distribution. Nonrenewable energy consumption is much more influenced by pandemic uncertainty than renewable energy consumption. Furthermore, the rank of asymmetries across our variables differentiates by the economy, emphasizing the need for decisionmakers to pay much attention to pandemics‐related uncertainty and the energy sector.

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Section: Discussion Of Resultssupporting

confidence: 72%

Revealing the energy paradox: Assessing the asymmetric impact of pandemic uncertainty on consumption of renewable and nonrenewable energy

Lin,

Ali

et al. 2023

Risk Analysis

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“…In addition, health policies based on a high degree of restrictions create a state of uncertainty that negatively affects overall socioeconomic system, and can reduce investments in capital and human resources, decrease consumer spending, and increase public debt in situation of crisis management (Goolsbee and Syverson 2021 ; Coccia 2013 , 2017b , 2021e ; Coccia and Rolfo 2020 ). In fact, strict policies of containment and contradictory scientific recommendations for COVID-19 pandemic have created confusion in many countries because a lot of initial claims are subsequently proved to be false or misleading (Ball 2021 ; Kufel et al 2022 ).…”

Section: Explanation Of Resultsmentioning

confidence: 99%

Effects of strict containment policies on COVID-19 pandemic crisis: lessons to cope with next pandemic impacts

Coccia

2022

Environ Sci Pollut Res

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The goal of the study here is to analyze and assess whether strict containment policies to cope with Coronavirus Disease 2019 (COVID-19) pandemic crisis are effective interventions to reduce high numbers of infections and deaths. A homogenous sample of 31 countries is categorized in two sets: countries with high or low strictness of public policy to cope with COVID-19 pandemic crisis. The findings here suggest that countries with a low intensity of strictness have average confirmed cases and fatality rates related to COVID-19 lower than countries with high strictness in containment policies (confirmed cases are 24.69% vs. 26.06% and fatality rates are 74.33% vs. 76.38%, respectively, in countries with low and high strictness of COVID-19 public policies of containment). What this study adds is that high levels of strict restriction policies may not be useful measures of control in containing the spread and negative impact of pandemics similar to COVID-19 and additionally a high strictness in containment policies generates substantial social and economic costs. These findings can be explained with manifold socioeconomic and environmental factors that support transmission dynamics and circulation of COVID-19 pandemic. Hence, high levels of strictness in public policy (and also a high share of administering new vaccines) seem to have low effectiveness to stop pandemics similar to COVID-19 driven by mutant viral agents. These results here suggest that the design of effective health policies for prevention and preparedness of future pandemics should be underpinned in a good governance of countries and adoption of new technology, rather than strict and generalized health polices having ambiguous effects of containment in society.

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“…There are other studies that have incorporated energy aspects in real business cycle (Kufel et al, 2022; Narayan et al, 2011; Yan & Shi, 2021). Specifically, Yan and Shi (2021) is based on heterogeneous patterns and cyclical components of clean energy utilisation during business cycle period over 1970–2017.…”

Section: Literature Review and Theoretical Backgroundmentioning

confidence: 99%

Analysis of the synchronisation of energy consumption: Evidence from G7 countries

et al. 2023

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The importance of energy is not only derived from its value to human life, but to living organisms, considering that it is primarily sourced from sunlight and other forms. More importantly, fossil fuel sources have increasingly been associated with almost every aspect of human existence, especially socioeconomic ones. Specifically, the liquid energy source (fossil oil) remained an essential commodity for economic activities across the globe, thus making its price a significant determinant of world market dynamics. Despite the environmental setbacks arising from oil energy utilisation, thus prompting global awakening and campaign for energy transition as a deliberate approach to thwart climate disaster, the global economy is yet to be decoupled from the claw of oil energy. Neither the energy transition policies nor the shock on oil production arising from the Coronavirus (COVID-19) pandemic is a sufficient ploy that could reduce the demand for oil commodities. As illustrated in Figure 1, the utilisation of liquid fuels has gradually rebounded globally and currently aiming to reach the pre-COVID-19 global consumption level. Since the third quarter of 2020 when economic activity,

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Do COVID-19 Lock-Downs Affect Business Cycle? Analysis Using Energy Consumption Cycle Clock for Selected European Countries

Cited by 13 publications

References 59 publications

Revealing the energy paradox: Assessing the asymmetric impact of pandemic uncertainty on consumption of renewable and nonrenewable energy

Revealing the energy paradox: Assessing the asymmetric impact of pandemic uncertainty on consumption of renewable and nonrenewable energy

Effects of strict containment policies on COVID-19 pandemic crisis: lessons to cope with next pandemic impacts

Analysis of the synchronisation of energy consumption: Evidence from G7 countries

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