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 In such scenario, it is no longer valid to treat energy price disturbances as exogenous shocks to an economic model that seeks to study the impact of energy on the business cycle.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
Citation
HUYNH, Bao Tan.
Role and Impact of Energy in the Business Cycle. (2015). 1-142. Dissertations and Theses Collection (Open Access).
Available at: https://ink.library.smu.edu.sg/etd_coll/121
Copyright Owner and License
Author
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.