gva t 0.99 (0.01) 0.50 (0.14) 0.66 (0.00) Δ electricity Δ 0.30 (0.06) 0.13 (0.54) 0.02 (0.88) consumption t-1 gva t-1 -0.60 (0.05) 0.03 (0.92) 0.15 (0.36) Δ price t-1 0.38 (0.03) 0.27 (0.30) 0.19 (0.13) Δ NA NA NA NA 0.07 (0.03) Dummy 83 Level Dummy 83 * NA NA NA NA -0.01 (0.00) time trend Level Dummy 02 -0.07 (0.03) -0.11 (0.01) -0.10 (0.00) Impulse Dummy 03 -0.18 (0.00) -0.16 (0.00) -0.19 (0.00) Long run elasticities gva t-1 1.00 1.00 1.00 p t-1 -0.56 -0.45 -0.63 Cointegration test (null hypothesis is cointegration) Upper Upper Test statistic Test statistic Test statistic bound bound bound F stat for 5.54 [5.06] 4.59* [5.06] 15.23 [5.06] Cointegration GVA long run coefficient test p value p value p value Test of long run 0.27 0.20 0.55 coefficient of GVA
Δ gva t 0.99 (0.01) 0.50 (0.14) 0.66 (0.00) Δ electricity consumption t-1 0.30 (0.06) 0.13 (0.54) 0.02 (0.88) Δ gva t-1 -0.60 (0.05) 0.03 (0.92) 0.15 (0.36) Δ price t-1 0.38 (0.03) 0.27 (0.30) 0.19 (0.13) Dummy 83 NA NA NA NA 0.07 (0.03) Level Dummy 83 * time trend NA NA NA NA -0.01 (0.00) Level Dummy 02 -0.07 (0.03) -0.11 (0.01) -0.10 (0.00) Impulse Dummy 03 -0.18 (0.00) -0.16 (0.00) -0.19 (0.00) Long run elasticities gva t-1 1.00 1.00 1.00 p t-1 -0.56 -0.45 -0.63 Cointegration test (null hypothesis is cointegration) Test statistic Upper bound Test statistic Upper bound Test statistic bound F stat for Cointegration 5.54 [5.06] 4.59* [5.06] 15.23 [5.06] GVA long run coefficient test p value p value p value Test of long run coefficient of GVA 0.27 0.20 0.55
Australiaelectricityandemissionsfinalreport.docx