%0 Journal Article
%T INVESTIGATING THE VARIABILITY OF THE INVESTMENT EFFECT IN ALTERNATIVE ENERGIES ON CRUDE OIL PRICE: STATE-SPACE APPROACH
%A Ahmad SALAH MANESH 1*
%A Sayed Aziz ARMAN 2
%A Soheil GHAHRIEH 3
%J Journal of Organizational Behavior Research
%@ 2528-9705
%D 2019
%V 4
%N 2
%P 1-18
%X During the recent years, most countries are paying a great deal of attention to alternative energy for reducing dependency on an energy carrier and also for environmental considerations. The limitations in the fossil energy sources and the large volume of their pollution, have caused more serious inclinations towards alternative energies. It seems that the mutual effect of crude oil’s price and investment in alternative energies is significant. Moreover, since the relationships between different economy variables in the course of time undergo variations, the model’s parameters are quite likely to be changed within a given period of time. the present study takes advantage of state-space models and applied Kalman Filter to investigate the variability of the mutual effect of crude oil price and investment in alternative energies for a period of time between 1995 and 2017 for the entire energy market. The results of the present study indicate that the crude oil price has a significant effect on the investment in the majority of alternative energies but the effect of investment in alternative energies on the crude oil price is weak. The effect of investment in solar and wind energies on the crude oil price is acceptable to some extent and it is predicted with the growth in these energies and increase in the energy market’s demand quotient that their effects on the crude oil price are increased more than before. Furthermore, no variability was observed in regard to the relationship between crude oil price and investment in alternative energies‎‎‎.
%U https://odad.org/article/investigating-the-variability-of-the-investment-effect-in-alternative-energies-on-crude-oil-price-state-space-approach