Publication Type

PhD Dissertation

Publication Date

5-2015

Abstract

Given the fundamental role of energy in the economy, the macroeconomic literature contains a large body of work on the impact of oil/energy on the business cycle, with much of the attention focusing on energy supply shocks, mostly modeled as exogenous oil/energy price increases. And yet, the oil price hikes pre-2008 suggest that other shocks to the energy market may be the source of such instance of price disturbances, so that their effects on the economy are no longer predicted by exogenous energy supply shocks. In such scenario, it is no longer valid to treat energy price disturbances as exogenous shocks to an economic model that seeks to study the impact of energy on the business cycle.

Keywords

energy, energy price shock, business cycle

Degree Awarded

PhD in Economics

Discipline

Economics | Energy Policy | Macroeconomics

Supervisor(s)

AN, Sungbae

First Page

1

Last Page

142

Publisher

Singapore Management University

City or Country

Singapore

Copyright Owner and License

Author

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

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