Evaluation of a DSGE Model of Energy in the United Kingdom Using Stationary Data
MetadataShow full item record
I examine the impact of energy price shock (oil prices shock and gas prices shock) on the economic activities in the United Kingdom using a dynamic stochastic general equilibrium model with a New Keynesian Philips Curve. I decomposed the changes in output caused by all of the stationary structural shocks. I found that the fall in output during the financial crisis period is driven by domestic demand shock, energy prices shock and world demand shock. I found the energy prices shock’s contribution to fall in output is temporary. Such that, the UK can borrow against such a temporary fall. This estimated model can create additional input to the policymaker’s choice of models.
Aminu, N. (2017) 'Evaluation of a DSGE Model of Energy in the United Kingdom Using Stationary Data', Computational Economics, 47, pp.1-36
This article was published in Computational Economics on 09 February 2017, available open access at http://dx.doi.org/10.1007/s10614-017-9657-9
Cardiff Metropolitan University (Grant ID: Cardiff Metropolian (Internal))
Showing items related by title, author, subject and abstract.
The Effect of Crude Oil Price Fluctuations on Stock Market Indices and the Informational Efficiency of these Markets LOADER, RORY (Cardiff Metropolitan University, 2014)Abstract This study was undertaken to investigate the empirical relationship between world crude oil prices and the price levels of stock market equity indices (FTSE-100 and Dow Jones Industrial Average over a 10 year ...
Nguyen, Thuy Thu (Cardiff Metropolitan University, 2016)The prime contribution of this research is that it provides various empirical results regarding the bivariate and multivariate causality and cointegrating relationships between Vietnam’s stock market returns and macroeconomic ...
Gomes, Ruben; Jones, Robyn; Baptista, Paula; Mesquita, Isabel (Routledge, 2016-02-12)The aim of this study was to investigate the work-based internship experiences of eight student-coaches. This was particularly in terms of what precisely such coaches learned within the practical context, and how they ...