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Table 6 The regression results regarding the effectiveness of relative prices in rising and falling periods with respect to industrial energy consumption in China

From: The impact of relative energy prices on industrial energy consumption in China: a consideration of inflation costs

 

c

AP

DP

Y

S

E

T

 

C1

−3.9126 (−2.130**)†

−0.1207 (−0.972)

−0.1278 (−0.966)

0.1430 (0.6107)

−0.1421 (−0.441)

3.0930 (8.6167***)

0.3542 (3.0364***)

R2 = 0.9960

DW = 1.8515

–

−0.3520 (−4.334***)

−0.3564 (−3.991***)

0.9063 (10.055***)

1.6272 (10.005***)

–

–

R2 = 0.9966

DW = 1.8975

C2

−8.5171 (−4.638***)

−0.1207 (−0.972)

−0.1278 (−0.966)

−0.8569 (−3.660***)

−0.1422 (−0.442)

3.0929 (8.6190***)

0.3542 (3.0373***)

R2 = 0.9904

DW = 1.8514

12.2223 (−6.963***)

−0.2353 (−5.545***)

−0.2657 (−6.204***)

–

−0.9136 (−3.381***)

3.9045 (10.8265***)

–

R2 = 0.9824

DW = 1.7998

  1. *, **, *** Rejection of the null hypothesis at the 10, 5 and 1 % confidence levels, respectively. For the regression model C1, which includes Y, S and P, the iterative estimation method is used because the regression results that use OLS are not sound
  2. †The values in parentheses are t statistics
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