Energy-Growth Nexus in an Era of Globalization

The dynamics of energy demand in energy markets has been an ongoing interest in the relevant literature. The majority of available works in the literature considers the behavior of aggregated energy consumption. These works surely have some noteworthy outputs to determine the parameters of demand for energy in the country level or panel data level.The energy policy administrators of specific countries however need to monitor the parameters of disaggregated energy demand in some specific sectors. To this end, this research aims at revealing the estimated coefficients of electricity retail sales in the United States in terms of electricity end-use, industrial sector, and transportation sector by following relevant quarterly data for the period 1997Q1–2019Q2 for electricity end-users, industrial sector, and transportation sector.The work conducts structural vector autoregressive analyses to observe specifically the impacts of income, country-level World uncertainty, country-level economic policy uncertainty, and energy price index on electricity retail sales.This book chapter eventually explores that (a) US country-level World uncertainty index and US economic policy index have negative impacts on electricity end-use and retail electricity sales to the industrial sector and that (b) retail electricity sales to the transportation sector are influenced negatively by economic policy uncertainty. The chapter finally suggests some energy policy implementations to reach more efficient and environmentally friendly clean energy use in the United States.