THE RELATIONSHIP BETWEEN THE SHARE OF RENEWABLES, ELECTRICITY PRICES AND GDP IN THE CZECH REPUBLIC

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HAJKO Vladimír

Rok publikování 2012
Druh Článek v odborném periodiku
Časopis / Zdroj International Journal of Business and Management Studies
Fakulta / Pracoviště MU

Ekonomicko-správní fakulta

Citace
Obor Ekonomie
Klíčová slova Renewables; Electricity prices; GDP; Cointegration
Popis The aim of this article is to examine the relationship between the price of electricity for households, gross domestic product and the share of electricity produced from renewables in the Czech Republic in years 2000-2009. There is an indication for the existence of cointegration relationship between these variables, in other words there probably is a long-run equilibrium between the share of renewables and the GDP, which may be appropriate topic for further research. The vector error correction model is estimated. The relationship appears to be of the bivariate form between GDP and the renewables share of electricity production.
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