Macroeconomic effects of energy price shocks on the business cycle
This paper proposes a framework of endogenous energy production with convex costs to investigate the general equilibrium effects of energy price shocks on the business cycle. This framework explicitly models the consumption of durables and nondurables and implements a high complementarity between en...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2016
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/2324 https://ink.library.smu.edu.sg/context/soe_research/article/3323/viewcontent/Energy_Price_Shocks_av.pdf |
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| Institution: | Singapore Management University |
| Language: | English |