Abstract
The analysis concentrates on direct and indirect price increases, induced shifts in international trade and structural changes in the oil importing economies. The paper at hand asks, whether a stabilizing effect via international trade and domestic structural change on the GDP of oil importing countries can be observed, if a permanent oil price increase occurs. At least for Germany, structural change from consumer goods to investment goods industry and an improvement of international competitiveness limit negative impacts of increased energy prices. Analysis is based on the extensive and disaggregated global GINFORS model and the detailed INFORGE model for the German economy.
| Original language | English |
|---|---|
| Pages (from-to) | 882-887 |
| Number of pages | 6 |
| Journal | Energy Economics |
| Volume | 31 |
| Issue number | 6 |
| DOIs | |
| Publication status | Published - Nov 2009 |
| Externally published | Yes |
Keywords
- Energy prices and the macro economy
- Global modelling
- International trade
Cite this
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Economic impacts of higher oil and gas prices : the role of international trade for Germany. / Lutz, Christian; Meyer, Bernd.
In: Energy Economics, Vol. 31, No. 6, 11.2009, p. 882-887.Research output: Contribution to journal › Article › Research › peer-review
TY - JOUR
T1 - Economic impacts of higher oil and gas prices
T2 - the role of international trade for Germany
AU - Lutz, Christian
AU - Meyer, Bernd
PY - 2009/11
Y1 - 2009/11
N2 - The analysis concentrates on direct and indirect price increases, induced shifts in international trade and structural changes in the oil importing economies. The paper at hand asks, whether a stabilizing effect via international trade and domestic structural change on the GDP of oil importing countries can be observed, if a permanent oil price increase occurs. At least for Germany, structural change from consumer goods to investment goods industry and an improvement of international competitiveness limit negative impacts of increased energy prices. Analysis is based on the extensive and disaggregated global GINFORS model and the detailed INFORGE model for the German economy.
AB - The analysis concentrates on direct and indirect price increases, induced shifts in international trade and structural changes in the oil importing economies. The paper at hand asks, whether a stabilizing effect via international trade and domestic structural change on the GDP of oil importing countries can be observed, if a permanent oil price increase occurs. At least for Germany, structural change from consumer goods to investment goods industry and an improvement of international competitiveness limit negative impacts of increased energy prices. Analysis is based on the extensive and disaggregated global GINFORS model and the detailed INFORGE model for the German economy.
KW - Energy prices and the macro economy
KW - Global modelling
KW - International trade
UR - http://www.scopus.com/inward/record.url?scp=70349771943&partnerID=8YFLogxK
U2 - 10.1016/j.eneco.2009.05.009
DO - 10.1016/j.eneco.2009.05.009
M3 - Article
VL - 31
SP - 882
EP - 887
JO - Energy Economics
JF - Energy Economics
SN - 0140-9883
IS - 6
ER -