A Real-Business-Cycle model with energy use: Lessons for Bulgaria (1999-2018)

Artikel

We introduce energy as a productive input into a real-business-cycle model with government sector. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2018). We investigate the quantitative importance of the presence of energy, and the potential relevance of energy price shocks as driving forces behind the observed business cycle fluctuations in Bulgaria. In particular, a positive shock to energy prices in the model works like a negative technological shock. Allowing for the presence of energy as a factor of production does not substantially improves the model performance against data, and is thus an unlikely driver of business cycle fluctuations in Bulgaria.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Journal of Mathematical Economics and Finance ; ISSN: 2458-0813 ; Volume: IX ; Year: 2023 ; Issue: 2(17) ; Pages: 23-37 ; Craiova: ASERS Publishing

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Business Fluctuations; Cycles
• Thema: Business fluctuations ; energy use

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Vasilev, Aleksandar
• Ereignis: Veröffentlichung
• (wer): ASERS Publishing ; ZBW - Leibniz Information Centre for Economics
• (wo): Craiova
• (wann): 2023

Weitere Informationen

• DOI: doi:10.14505/jmef.v9.2(17).02
• Handle: http://hdl.handle.net/10419/283911
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ