Quantile connectedness between the climate policy and economic uncertainty: Evidence from the G7 countries

被引:9
|
作者
Mokni, Khaled [1 ,2 ]
Zaier, Leila Hedhili [3 ]
Youssef, Manel [4 ]
Ben Jabeur, Sami [5 ,6 ]
机构
[1] Univ Sousse, Higher Inst Transport & Logist Sousse, Sousse, Tunisia
[2] Univ Sousse, LaREMFiQ Lab, Sousse, Tunisia
[3] Univ Tunis, Higher Inst Management Tunis, Dept Econ & Quantitat methods, Tunis, Tunisia
[4] Ecovis KDH Partners, Ctr Etud & Rech Econ & Sociales CERES, 71 Av Alain Savary, Tunis 1003, Tunisia
[5] UCLy Lyon Catholic Univ, ESDES, Lyon, France
[6] UCLy Lyon Catholic Univ, UR CONFLUENCE Sci & Humanites EA1598, Lyon, France
关键词
Climate policy uncertainty; Economic policy uncertainty; Quantile connectedness; G7; countries; ENERGY-CONSUMPTION; RISK; IMPACT; WEATHER;
D O I
10.1016/j.jenvman.2023.119826
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
In this study, we investigate the transmission mechanism between climate policy uncertainty (CPU) and economic policy uncertainty (EPU) in the G7 countries. To account for different conditions, we use a quantile-based VAR (Q-VAR) model over the period between 2000 and 2021. Our results show high connectedness between the CPU and the EPU of G7 countries, particularly at extreme quantile orders. On the other hand, the spillover effects between climate and economic policy uncertainty differ depending on the distributional levels of the uncertainty indices. The CPU is a net receiver of uncertainty shocks, while for almost all countries, the EPU acts as a net receiver or emitter, depending on the economic situation. During times of high or low economic uncertainty, the EPU of all G7 countries is strongly affected by shocks originating from the CPU. Moreover, the results indicate that the dynamic spillover patterns between EPU and CPU vary over time, responding to different economic events and financial crises. These results call for policymakers and governments to urgently integrate climate considerations into economic planning, fiscal policies, and regulatory frameworks to promote sustainable economic growth and mitigate the impacts of climate change.
引用
收藏
页数:14
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