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- Title
The impact of permanent energy price shocks on the UK economy.
- Authors
Harrison, Richard; Thomas, Ryland; de Weymarn, Iain
- Abstract
The article presents a working paper on the impact of permanent energy price shocks on the economy of Great Britain. It discusses the use of a dynamic general equilibrium model approach in articulating the variety of channels wherein energy prices has affected the demand and supply of energy. It also examines the key assumptions and judgments of the quantitative sensitivity of inflation which include the degree of rigidity in price, monetary policy response, and degree of real wage resistance.
- Subjects
UNITED Kingdom; ENERGY industries; PRICES; SUPPLY &; demand; ECONOMETRIC models; ECONOMIC indicators
- Publication
Bank of England Quarterly Bulletin, 2011, Vol 51, Issue 3, p254
- ISSN
0005-5166
- Publication type
Article