February 28, 2017

BC3 Journal Article “Historical Energy Price Shocks and their Changing Effects on the Economy”

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.




María de Maeztu Excellence Unit 2023-2027 Ref. CEX2021-001201-M, funded by MCIN/AEI /10.13039/501100011033

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