Trade volume affects bitcoin energy consumption and carbon footprint
Trade volume affects bitcoin energy consumption and carbon footprint
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DOI：
10.1016/j.frl.2022.102977
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发表时间：
2022-05
影响因子：
10.4
通讯作者：
Samuel Asumadu Sarkodie;M. Ahmed;T. Leirvik
中科院分区：
文献类型：
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作者：
Samuel Asumadu Sarkodie;M. Ahmed;T. Leirvik
比特币的环境可持续性在经验文献中掀起了波澜，然而，到目前为止，还没有研究检验比特币能源消耗和碳足迹的金融决定因素。在这里，我们使用包括动态ARDL模拟和一般到特定VAR的新估计方法来检验比特币交易量对比特币能量和碳足迹的稳态效应、累积脉冲响应和反事实冲击，以确保真正的因果推断。我们观察到，从长期来看，比特币交易量的增加会刺激碳和能源足迹增加24%，而交易量的动态冲击会使比特币的能源和碳足迹增加46.54%。
The environmental sustainability of bitcoin is making waves in the empirical literature, yet, no study has thus far examined the financial determinants of bitcoin energy consumption and carbon footprint. Here, we use novel estimation methods comprising dynamic ARDL simulations and general-to-specific VAR to examine steady-state effects, cumulative impulse-response, and counterfactual shocks of bitcoin trade volume on bitcoin energy and carbon footprint to ensure genuine causal inferences. We observed an increase in bitcoin trade volume spur both carbon and energy footprint by 24% in the long-run, whereas a dynamic shock in trade volume escalates bitcoin energy and carbon footprint by 46.54%.