چکیده:
In the present paper, a case of fuzzy regression model was estimated for Iranian industrial energy intensity. To do so, at first the trapezoidal fuzzy values of energy intensity observations were calculated based on the Minimizing Entropy Principle Algorithm(MEPA) and then a tripled recursive model was estimated for fuzzified energy intensity. Because of application of the partial adjustment model, we explored the short-run and long-run membership functions for each of the explanatory variable fuzzy coefficients. The estimation results show that the lagged energy intensity values are the only factor which has a positive effect on the industrial energy intensity attitude, whereas other explanatory variables including energy price, value added share and technical efficiency score have negative effect on energy intensity trend in the period (1982-2006). Moreover the estimation results indicated the numerous potential energy saving in Iranian industrial sector which is mainly emerged from pure energy intensity in short-run
خلاصه ماشینی:
"In the short-run, also, the causal effects of the stock price change on the consumption were confirmed and the results showed that the negative shocks are corrected after four periods and the wealth effect is totally lost.
More accurately, with considering that more recent researches focus on the asymmetric adjustment of Except for 1997 consumption this survey, through using Error Correction Modeling and Threshold as well as Momentum-Threshold Cointegration [developed by Enders and Siklos (2001)] tries to answer this question that "Is asymmetric consumption adjusted toward its long-term trend or not?" In sections 2 and 3, existing literature and previous imperial studies are presented.
Using error correction modeling, Apergis and Miller (2006) showed the consumption asymmetric adjustments to short-run stock price changes.
1. Long-term Relationship The relationship between total consumption and stock market fluctuations is based on the life-cycles hypothesis (Ando & Modigliani, 1963) which determines a relative relationship between consumption and the expected resources earned from the individual's life-cycle income and wealth.
But, Mansor and Muzafar (2010) analyzed the consumption asymmetric adjustment toward long-run trend with using error correction process and showed that only positive shocks due to stock fluctuations are corrected.
(رجوع شود به تصویر صفحه) Using asymmetric cointegration method, the long-term relationship between consumption, income and stock price was obtained as follows: (6) (5.
On the other hand, short-term model results showed that consumption reacts to stock price changes indicating the wealth effect in the consumption function."