What determines the output drop after an energy price increase: Household or firm energy share?

Autor:	Karsten Jeske, Rajeev Dhawan
Rok vydání:	2008
Předmět:	Microeconomics Economics and Econometrics Econometrics Dynamic stochastic general equilibrium Business cycle Economics Drop (telecommunication) Durable good Monetary economics Finance Energy (signal processing)
Zdroj:	Economics Letters. 101:202-205
ISSN:	0165-1765
DOI:	10.1016/j.econlet.2008.08.011
Popis:	During the past thirty-five years, energy use as a fraction of output has dropped significantly at both the household and the firm levels. Therefore, we investigate a dynamic stochastic generalized equilibrium model economy's response to an energy price hike for different firm and household energy shares. Simulation results indicate that the economy's output response is mainly determined by the firm energy share. Increasing the household energy share while keeping firm energy share constant actually decreases the output response.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::d91b645c8bf474077668297ebc3f949c https://doi.org/10.1016/j.econlet.2008.08.011 Zobrazit plný text záznamu Full Text from ScienceDirect