Analysis of dynamic elasticity of energy consumption and economy growth ---- Based on state space model
Builds a state space model of energy consumption and economy growth, and uses Kalman filter algorithm to estimate parameters, and also, uses cointegration test to verify the reliability of the model. The results show that both the long-term and short-term elasticity of energy consumption experience significant fluctuation process from up to down. The same trend of fluctuations may explain that energy consumption is vulnerable to short-term factors. The existence of lagged elasticity of energy consumption explained the lagged effect of energy consumption well.