Browsing by Author "Lin, Cheng-Hsun"

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Asymmetric impacts of international energy shocks on macroeconomic activities
(2012-05-01)
Yeh, Fang-Yu
;
Hu, Jin-Li
;
Lin, Cheng-Hsun
;
經營管理研究所
;
Institute of Business and Management
While limited by its scarcity of natural resources, the impacts of energy price changes on Taiwan's economic activities have been an important issue for social public and government authorities. This study applies the multivariate threshold model to investigate the effects of various international energy price shocks on Taiwan's macroeconomic activity. By separating energy price changes into the so-called decrease and increase regimes, we can realize different impacts of energy price changes and their shocks on economic output. The results confirm that there is an asymmetric threshold effect for the energy-output nexus. The optimal threshold levels are exactly where the oil price change is at 2.48%, the natural gas price change is at 0.66%, and the coal price.:hange is at 0.25%. The impulse response analysis suggests that oil price and natural gas shocks have a delayed negative impact on macroeconomic activities. (C) 2012 Published by Elsevier Ltd.
Disaggregated energy consumption and GDP in Taiwan: A threshold co-integration analysis
(2008-09-01)
Hu, Jin-Li
;
Lin, Cheng-Hsun
;
經營管理研究所
;
Institute of Business and Management
Energy consumption growth is much higher than economic growth for Taiwan in recent years, worsening its energy efficiency. This paper provides a solid explanation by examining the equilibrium relationship between GDP and disaggregated energy consumption under a non-linear framework. The threshold co-integration test developed with asymmetric dynamic adjusting processes proposed by Hansen and Seo [Hansen, B.E., See, B., 2002. Testing for two-regime threshold cointegration in vector error-correction models. Journal of Econometrics 110, 293-318.] is applied. Non-linear co-integrations between GDP and disaggregated energy consumptions are confirmed except for oil consumption. The two-regime vector error-correction models (VECM) show that the adjustment process of energy consumption toward equilibrium is highly persistent when an appropriately threshold is reached. There is mean-reverting behavior when the threshold is reached, making aggregate and disaggregated energy Consumptions grow faster than GDP it) Taiwan. (C) 2007 Elsevier B.V. All rights reserved.
Environment-adjusted regional energy efficiency in Taiwan
(2011-08-01)
Hu, Jin-Li
;
Lio, Mon-Chi
;
Yeh, Fang-Yu
;
Lin, Cheng-Hsun
;
經營管理研究所
This study applies the four-stage DEA procedure to calculate the energy efficiency of 23 regions in Taiwan from 1998 to 2007. After controlling for the effects of external environments, only Taipei City, Chiayi City, and Kaohsiung City are energy efficient. Note that Kaohsiung City reaches the efficiency frontier due to the adjustment via partial environmental factors such as higher education attainment and transport vehicles. We also find a worsening trend for Taiwan's energy efficiency. Not only is there a gap of energy efficiency between Taiwan's metropolitan areas and the other regions, but the gap has also widened in recent years. Those inefficient counties should be given priority and the savings potential. Except for road density, the evidence indicates that each environmental factor has partial incremental effects on input slacks. As more cars and motorcycles are unfavorable externalities affecting partial energy efficiency, the central government should help local governments retire inefficient old motor vehicles, encourage energy-saving vehicle models, and provide convenient mass transportation systems. Besides, people with higher education cause industrial energy inefficient in Taiwan. The conscious of effective energy saving is necessary to schools, communities, and employee accordingly. (C) 2011 Elsevier Ltd. All rights reserved.
Nonlinear vs. nonstationary of hysteresis in unemployment: evidence from OECD economies
(2008)
Lin, Cheng-Hsun
;
Kuo, Nai-Fong
;
Yuan, Cheng-Da
;
經營管理研究所
;
Institute of Business and Management
This study examines the lower and higher boundaries for the threshold value to be considered an indicator of unemployment in a specific country. Specially, the objective is to conduct the critical moment of hysteresis effects happening in unemployment rate using a group of 16 organization for economic cooperation and development of countries. The methodological strategy applies a developed tool of threshold tests involving unit root against stationary but nonlinear alternative by Caner and Hansen (2001). A significant contribution of this study is identifying a trigger point from the nonstationary of time series process for the first time in the literature. Our empirical results finds strong evidence of the existence of nonlinear stationary in Australia, Canada, Finland, France, Germany, Ireland, Japan, Netherlands and the USA when the threshold effect holds. The hysteresis hypothesis is further confirmed by the fact that the unemployment rate exceeds the boundaries of the band, for Australia, Finland, France, Germany, Japan and the USA when the threshold unit root test of Caner and Hansen is rigorously implemented.
Nonlinear vs. nonstationary of hysteresis in unemployment: evidence from OECD economies
(2008)
Lin, Cheng-Hsun
;
Kuo, Nai-Fong
;
Yuan, Cheng-Da
;
經營管理研究所
;
Institute of Business and Management
This study examines the lower and higher boundaries for the threshold value to be considered an indicator of unemployment in a specific country. Specially, the objective is to conduct the critical moment of hysteresis effects happening in unemployment rate using a group of 16 OECD countries. The methodological strategy applies a developed tool of threshold tests involving unit root against stationary but nonlinear alternative by Caner and Hansen (2001). A significant contribution of this study is identifying a trigger point from the nonstationary of time series process for the first time in the literature. Our empirical results finds strong evidence of the existence of nonlinear stationary in Australia, Canada, Finland, France, Germany, Ireland, Japan, Netherlands and the USA when the threshold effect holds. The hysteresis hypothesis is further confirmed by the fact that the unemployment rate exceeds the boundaries of the band, for Australia, Finland, France, Germany, Japan and the USA when the threshold unit root test of Caner and Hansen is rigorously implemented.
Nonlinear vs. nonstationary of hysteresis in unemployment: evidence from OECD economies
(2008-01-01)
Lin, Cheng-Hsun
;
Kuo, Nai-Fong
;
Yuan, Cheng-Da
;
經營管理研究所
;
Institute of Business and Management
This study examines the lower and higher boundaries for the threshold value to be considered an indicator of unemployment in a specific country. Specially, the objective is to conduct the critical moment of hysteresis effects happening in unemployment rate using a group of 16 OECD countries. The methodological strategy applies a developed tool of threshold tests involving unit root against stationary but nonlinear alternative by Caner and Hansen (2001). A significant contribution of this study is identifying a trigger point from the nonstationary of time series process for the first time in the literature. Our empirical results finds strong evidence of the existence of nonlinear stationary in Australia, Canada, Finland, France, Germany, Ireland, Japan, Netherlands and the USA when the threshold effect holds. The hysteresis hypothesis is further confirmed by the fact that the unemployment rate exceeds the boundaries of the band, for Australia, Finland, France, Germany, Japan and the USA when the threshold unit root test of Caner and Hansen is rigorously implemented.