Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 10th Sept 2026, 07:06:39pm CEST (Norway)
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Daily Overview |
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Climate policy and energy production Location: Auditorium P: Finn Kydland Session Chair: Laura Egelmeers, Utrecht University (UU) | |
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Impacts of Energy Market Shocks in a Globally Networked Economy Utrecht University (UU), Netherlands, The Energy price shocks are known to be influential in shaping aggregate fluctuations. This is due to the energy sectors’ position as production network hubs: they are key input-suppliers to many other central sectors, which renders their ability to propagate shocks out of proportion to their GDP share. I quantify the importance of the energy sectors in macroeconomic shock propagation and amplification across sectors for 9 small, open European economies using international sector-level input-output data. While existing research on sector-specific shock propagation relies on closed-economy models, I demonstrate that incorporating an open-economy framework—accounting for substitution between imported and domestic energy commodities as well as pre-shock price differences—significantly alters impact estimates. This approach mitigates the estimated negative GDP effects of an energy import price shock, though the precise magnitude of the effect depends on the elasticity of substitution. | |