February 28, 2017
Published by BC3Research Dirk-Jan Van de Ven at February 28, 2017
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The purpose of this paper is to identify the changes in the impact of energy shocks on economic activity — with an interest in assessing if an economy's vulnerability and resilience to shocks improved with economic development. Using data on the United Kingdom over the last three hundred years, the paper identifies supply, aggregate demand and residual shocks to energy prices and estimates their changing influence on energy prices and GDP.
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