Arbeitspapier
Energy business cycles
We find that, when estimated, a two sector computable dynamic stochastic general equilibrium open economy model of the U.S. that formally admits energy into the production process can generate plausible parameter values that can be applied to deal with a broad range of economic issues. As a benchmark, we require that the model fits the data for output, real exchange rate, energy use, and consumption: output because it serves as a measure of a country's total income,real exchange rate because it serves as a determinant of a country's relative competitiveness,energy use because it serves as an indicator of special inputs into a country's production process,and consumption because it serves as a yardstick for evaluating a country's standard of living. Finally, we argue that this model, with appropriate extensions, some of which we also propose, can help future modelers to tackle other research questions.
- Sprache
-
Englisch
- Erschienen in
-
Series: Cardiff Economics Working Papers ; No. E2015/19
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Computable and Other Applied General Equilibrium Models
Open Economy Macroeconomics
Model Evaluation, Validation, and Selection
Energy and the Macroeconomy
- Thema
-
Two sector
US DSGE model
Oil price volatility
Open economy
Indirect inference
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Meenagh, David
Minford, Patrick
Oyekola, Olayinka
- Ereignis
-
Veröffentlichung
- (wer)
-
Cardiff University, Cardiff Business School
- (wo)
-
Cardiff
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Meenagh, David
- Minford, Patrick
- Oyekola, Olayinka
- Cardiff University, Cardiff Business School
Entstanden
- 2015
Ähnliche Objekte (12)
Understanding UK trade agreements with the EU and other countries
The effects of Brexit on the UK economy
Evaluating European trading arrangements
Post-Brexit realism and international law: Renegotiating a bad Withdrawal Agreement
Where next for monetary policy? Lessons from the financial crisis and the pandemic
Commentary on economic projections and rules of thumb for monetary policy (by Athanasios Orphanides and Volker Wieland)
The banking crisis: A rational interpretation
A note rebutting the recent Cambridge Econometrics assessment of Brexit on the UK and London economies: Commissioned by London Mayor Khan
Free Trade under Brexit: Why its benefits have been widely underestimated
Real exchange rate overshooting in real business cycle model: An empirical evidence from India
Is housing collateral important to the business cycle? Evidence from China parity
Calvo contracts: Optimal indexation in general equilibrium
Understanding UK trade agreements with the EU and other countries
The effects of Brexit on the UK economy
Evaluating European trading arrangements
Post-Brexit realism and international law: Renegotiating a bad Withdrawal Agreement
Where next for monetary policy? Lessons from the financial crisis and the pandemic
Commentary on economic projections and rules of thumb for monetary policy (by Athanasios Orphanides and Volker Wieland)
The banking crisis: A rational interpretation
A note rebutting the recent Cambridge Econometrics assessment of Brexit on the UK and London economies: Commissioned by London Mayor Khan
Free Trade under Brexit: Why its benefits have been widely underestimated
Real exchange rate overshooting in real business cycle model: An empirical evidence from India
Is housing collateral important to the business cycle? Evidence from China parity
Calvo contracts: Optimal indexation in general equilibrium
Understanding UK trade agreements with the EU and other countries
The effects of Brexit on the UK economy
Evaluating European trading arrangements
Post-Brexit realism and international law: Renegotiating a bad Withdrawal Agreement
Where next for monetary policy? Lessons from the financial crisis and the pandemic
Commentary on economic projections and rules of thumb for monetary policy (by Athanasios Orphanides and Volker Wieland)
The banking crisis: A rational interpretation
A note rebutting the recent Cambridge Econometrics assessment of Brexit on the UK and London economies: Commissioned by London Mayor Khan
Free Trade under Brexit: Why its benefits have been widely underestimated
Real exchange rate overshooting in real business cycle model: An empirical evidence from India
Is housing collateral important to the business cycle? Evidence from China parity