Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/290550 
Year of Publication: 
2023
Citation: 
[Journal:] Naše gospodarstvo / Our Economy [ISSN:] 2385-8052 [Volume:] 69 [Issue:] 4 [Year:] 2023 [Pages:] 1-11
Publisher: 
Sciendo, Warsaw
Abstract: 
This article aims to examine the potential relationship between Brent crude oil futures prices and the index of the European renewable energy companies. After the overview of the European legislation and the most recent literature review on the topic, the article deploys a method of the Vector Autoregressive Model (VAR). The analysis includes weekly data over eight years (2015-2022). Our results indicate a positive correlation between Brent crude oil futures prices and the value of the European Renewable Energy Total Return (ERIX) index. The estimated bivariate VAR model indicates a statistically significant relationship, meaning that past values of the ERIX Index may be used to predict future Brent crude oil prices in the long run. Considering the most recent systemic disturbance in the world's commodity market, future research should consider longer time series and possible relationships of other macroeconomic factors.
Subjects: 
Renewable energy
Brent crude oil
Futures prices
ERIX index
VAR
JEL: 
Q42
Q43
Q48
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size
783.33 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.