pt. 1. Macroeconomic and distributional dimensions of energy shocks -- pt. 2. Social, local and environmental impacts of changes in the energy market -- pt. 3. The impacts of bio and alternative fuels -- pt. 4. Conclusions.

Crude oil has become a prominent indicator for economic activities worldwide, due to its outstanding importance in the supply of the world's energy demands. Many economists believe that there is a strong relationship between the growth rate of a country and oil-prices. As such we attempt to...

So far, the literature on dynamic stochastic general equilibrium models with energy price shocks uses energy on the production side only. In these models, energy shocks are responsible for only a negligible share of output fluctuations. We study the robustness of this finding by explicitly...