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Evaluation of a DSGE Model of Energy in the United Kingdom Using Stationary Data

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journal contribution
posted on 22.02.2022, 16:44 by Nasir Aminu
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.

History

Published in

Computational Economics

Publisher

Springer

Version

VoR (Version of Record)

Citation

Aminu, N. (2017) 'Evaluation of a DSGE Model of Energy in the United Kingdom Using Stationary Data', Computational Economics, 47, pp.1-36

Print ISSN

1572-9974

Electronic ISSN

0927-7099

Cardiff Met Affiliation

  • Cardiff School of Management

Cardiff Met Authors

Nasir Aminu

Cardiff Met Research Centre/Group

  • Welsh Centre for Business and Management Research

Copyright Holder

© The Authors

Language

en