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The Economics of Energy (and Electricity) Demand

Platchkov, L. M.; Pollitt, M. G. - Faculty of Economics, University of Cambridge - 2011

Economic drivers, technologies and demand side management are keys in understanding the long-term trends of both energy and more specifically electricity consumption. This paper discusses some of the important economics foundations of energy demand in general, and electricity in particular....

Persistent link: https://www.econbiz.de/10009024896

Price Volatility and Demand for Oil: A Comparative Analysis of Developed and Developing Countries

Jobling, Andrew; Jamasb, Tooraj - Faculty of Economics, University of Cambridge - 2015

During the past three decades the global oil market has seen significant price volatility. Literature to date has not analysed the cross-country effect of the recent episode of price instability. Previous studies have either not considered this period or have not utilised panel data techniques...

Persistent link: https://www.econbiz.de/10011265352

The Effect of Energy Prices on Operation and Investment in OECD Countries: Evidence from the Vintage Capital Model

Steinbuks, J.; Meshreky, A.; Neuhoff, K. - Faculty of Economics, University of Cambridge - 2009

This paper analyzes the effect of energy prices on energy efficiency, separately accounting for operational and investment choices in different sectors. For this purpose, capital stock is characterised by vintages with different intensities of energy use, calculated as a function of...

Persistent link: https://www.econbiz.de/10008528488

Operational and Investment Response to Energy Prices in the OECD Manufacturing Sector

Steinbuks, J.; Neuhoff, K. - Faculty of Economics, University of Cambridge - 2010

This paper estimates the vintage capital model of energy demand and examines operational and investment responses to energy prices at disaggregate level using data from five OECD manufacturing industries. Applying the model to less aggregate level data helps avoiding the distortions from...

Persistent link: https://www.econbiz.de/10008503178

An Empirical Growth Model for Major Oil Exporters

Esfahani, H. S.; Mohaddes, K.; Pesaran, M. H. - Faculty of Economics, University of Cambridge - 2012

the range of 45 to 125 years. For Indonesia, whose share of oil income in GDP has been declining steadily over the past …

Persistent link: https://www.econbiz.de/10011015261

China’s Emergence in the World Economy and Business Cycles in Latin America

Cesa-Bianchi, A.; Pesaran, M. H.; Rebucci, A.; Xu, T. - Faculty of Economics, University of Cambridge - 2011

world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … times since mid-1990s. At the same time, the long-term impact of a US GDP shock has halved, while the transmission of shocks … to Latin America and the rest of emerging Asia (excluding China and India) GDP has not undergone any significant change …

Persistent link: https://www.econbiz.de/10009207384

Oil Prices, External Income, and Growth: Lessons from Jordan

Mohaddes, K.; Raissi, M. - Faculty of Economics, University of Cambridge - 2011

This paper extends the long-run growth model of Esfahani et al. (2009) to a labour exporting country that receives large inflows of external income - the sum of remittances, FDI and general government transfers - from major oil exporting economies. The theoretical model predicts real oil prices...

Persistent link: https://www.econbiz.de/10009386425

The role of credit in international business cycles

Xu, T.T. - Faculty of Economics, University of Cambridge - 2012

The recent financial crisis raises important issues about the role of credit in international business cycles and the transmission of financial shocks across country borders. This paper investigates the international spillover of US credit shocks and the importance of credit in explaining...

Persistent link: https://www.econbiz.de/10009398261

Theory and Practice of GVAR Modeling

Chudik, Alexander; Pesaran, Hashem - Faculty of Economics, University of Cambridge - 2014

The Global Vector Autoregressive (GVAR) approach has proven to be a very useful approach to analyze interactions in the global macroeconomy and other data networks where both the cross-section and the time dimensions are large. This paper surveys the latest developments in the GVAR modeling,...

Persistent link: https://www.econbiz.de/10010790553

Fair Weather or Foul? The Macroeconomic Effects of El Niño

Cashin, Paul; Mohaddes, Kamiar; Raissi, Mehdi - Faculty of Economics, University of Cambridge - 2014

This paper employs a dynamic multi-country framework to analyze the international macroeconomic transmission of El Niño weather shocks. This framework comprises 21 country/region-specific models, estimated over the period 1979Q2 to 2013Q1, and accounts for not only direct exposures of countries...

Persistent link: https://www.econbiz.de/10010790556