Macroeconomic effects of energy prices

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Jim Thompson
Junior Member
Posts: 14
Joined: Fri Mar 29, 2002 3:39 am

Macroeconomic effects of energy prices

Post by Jim Thompson »

Marziyeh Emami writes: I want to examine the effects of energy prices especially electricity prices on macroeconomical indices such as GDP, Inflation rate, unemployment ,etc. so I need to model the macroeconomy model and link energy prices to macroeconomical indices.

That sounds like a fairly big job.

To start, have a look at John Sterman's thesis, The Energy Transition and the Economy: A System Dynamics Approach. You can find it in the D-memo collection in the MIT System Dynamics Group Literature Collection
http://www.systemdynamics.org/MITCollectionCDinfo.htm. Your library should have a DVD already or they can order one for $120. It is an extremely good bargain.

There are several D-memos (discussion memos) included in the collection that might interest you. D-4020 is ""System Dynamics National Model: Macrobehavior from Microstructure"" by Jay Forrester. D-4068 by Jay Forrester, Nathan Forrester and C.J. Ryan might be a good place to start: The System Dynamics National Model: Understanding Socio-Economic Behavior and Policy Alternatives, and then spread your research horizon from there. Some earlier work such as D-3038, Energy and the Economy: A Proposal Submitted to The U.S. Department of Energy, might give you an idea of what has been done by others.

Keep us informed of how you are doing. Good luck,
Jim Thompson
From: ""Jim Thompson"" <jim@globalprospectus.com>

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