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Evaluation of a DSGE Model of Energy in the United Kingdom Using Stationary Data
journal contribution
posted on 2022-02-22, 16:44 authored by Nasir AminuI 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 EconomicsPublisher
SpringerVersion
- 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.1-36Print ISSN
1572-9974Electronic ISSN
0927-7099Cardiff Met Affiliation
- Cardiff School of Management
Cardiff Met Authors
Nasir AminuCardiff Met Research Centre/Group
- Welsh Centre for Business and Management Research
Copyright Holder
- © The Authors
Language
- en