Oil market developments and the global economy from a general equilibrium perspective

Gbadebo Oladosu

No 8405, EcoMod2015 from EcoMod

Abstract: Oil remains the top resource for meeting global energy requirements, and is one of the most widely traded commodities. With different levels of petroleum production, exports and consumption, developments in the oil market have far-reaching and varied consequences across regions. Policymakers and analyst alike are interested in understanding the sources of price movements, and its implications for the economy. This paper evaluates the regional economic impacts of oil markets changes across the globe. Simulations are performed with the energy policy in general equilibrium (EPGE) model, a 19-region and 49-sector global dynamic economic model with a 2004 base year. The simulations evaluate a number of scenarios that include changes oil demand and supply, as well as other sources of shocks to the oil price. Results highlight economic impacts in terms of changes in the gross domestic product, sectoral outputs and prices, employment and other indicators of economic performance.

Keywords: Global; Energy and environmental policy; General equilibrium modeling (CGE) (search for similar items in EconPapers)
Date: 2015-07-01
New Economics Papers: this item is included in nep-cmp and nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://ecomod.net/system/files/Oladosu_Oil%20marke ... economy_20150902.pdf
Our link check indicates that this URL is bad, the error code is: 403 Forbidden (http://ecomod.net/system/files/Oladosu_Oil%20market%20developments%20and%20the%20global%20economy_20150902.pdf [301 Moved Permanently]--> https://ecomod.net/system/files/Oladosu_Oil%20market%20developments%20and%20the%20global%20economy_20150902.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ekd:008007:8405

Access Statistics for this paper

More papers in EcoMod2015 from EcoMod Contact information at EDIRC.
Bibliographic data for series maintained by Theresa Leary ().