Role and Impact of Energy in the Business Cycle

This book investigates the macroeconomic impact of energy price fluctuations on the macroeconomy in three main areas: the domestic economy international trade and monetary policy. It shows that energy price fluctuations of different origins bring about very diverse macroeconomic consequences and that the role of durables consumption plays a crucial role in this distinction. The results in this book connect the underlying causes of these energy price disturbances to their effects on the economy and show the need for diverse policy considerations when it comes to dealing with variations in energy price.