Spillovers effect of gas price on macroeconomic indicators: A GVAR approach
Электронный научный архив УРФУ
Информация об архиве | Просмотр оригинала| Поле | Значение | |
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Spillovers effect of gas price on macroeconomic indicators: A GVAR approach
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| Автор |
Mirnezami, S. R.
Sohag, K. Jamour, M. Moridi-Farimani, F. Hosseinian, A. |
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| Тематика |
GVAR
IMPULSE RESPONSES INTERNATIONAL TRADE NATURAL GAS OIL PRICE SHOCK GASES NATURAL GAS PUBLIC POLICY AUTO-REGRESSIVE ENERGY TRANSITIONS GAS PRICE GLOBAL ENERGY GLOBAL VECTOR AUTOREGRESSIVE MACROECONOMIC INDICATORS OIL PRICE SHOCKS RESOURCE RENTS RESOURCE-RICH SPILLOVER EFFECTS INTERNATIONAL TRADE |
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| Описание |
The demand for natural gas as a transitional fuel has been increasing steadily due to global energy transitions. However, the high concentration of natural gas sources among a few producers and the dependence of many consuming economies raises questions about the macroeconomic impact of gas price shocks. Therefore, this study utilizes the global vector autoregressive (GVAR) approach to estimate the spillover effects of natural gas price shocks on key macroeconomic indicators. To enhance the GVAR data vintage, we have incorporated Iran and Russia in 24 countries and updated data till 2020. Our empirical analysis reveals that inflation responds positively to gas price hikes in major gas-consuming countries. Moreover, real GDP responds positively to increased gas prices in resource-rich countries such as Iran and Russia but negatively in other countries. Additionally, an augmentation of resource rents fosters GDP for Iran and Russia. Our findings highlight several policy implications that account for gas price shocks. Therefore, policymakers should consider the spillover effects of gas price shocks and their impact on inflation and real GDP. Moreover, resource-rich countries like Iran and Russia should optimize resource rents to foster economic growth. © 2023 The Author(s)
Russian Foundation for Basic Research, РФФИ; Iran National Science Foundation, INSF: - 20-510-56021, 98029913 The reported study was funded by RFBR and INSF , Project Numbers:- 20-510-56021 and 98029913 , respectively. |
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| Дата |
2024-04-05T16:25:25Z
2024-04-05T16:25:25Z 2023 |
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| Тип |
Article
Journal article (info:eu-repo/semantics/article) |info:eu-repo/semantics/publishedVersion |
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| Идентификатор |
Mirnezami, SR, Sohag, K, Jamour, M, Moridi-Farimani, F & Hosseinian, A 2023, 'Spillovers effect of gas price on macroeconomic indicators: A GVAR approach', Energy Reports, Том. 9, стр. 6211-6218. https://doi.org/10.1016/j.egyr.2023.05.222
Mirnezami, S. R., Sohag, K., Jamour, M., Moridi-Farimani, F., & Hosseinian, A. (2023). Spillovers effect of gas price on macroeconomic indicators: A GVAR approach. Energy Reports, 9, 6211-6218. https://doi.org/10.1016/j.egyr.2023.05.222 2352-4847 Final All Open Access, Gold https://www.scopus.com/inward/record.uri?eid=2-s2.0-85161261364&doi=10.1016%2fj.egyr.2023.05.222&partnerID=40&md5=6544a479d7ce5e832010717cfa03b369 https://doi.org/10.1016/j.egyr.2023.05.222 http://elar.urfu.ru/handle/10995/130543 10.1016/j.egyr.2023.05.222 85161261364 001020770800001 |
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| Язык |
en
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| Права |
Open access (info:eu-repo/semantics/openAccess)
cc-by-nc-nd https://creativecommons.org/licenses/by-nc-nd/4.0/ |
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| Формат |
application/pdf
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| Издатель |
Elsevier Ltd
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| Источник |
Energy Reports
Energy Reports |
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