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Economic Impacts Of Energy Price Shocks In The Eu Driven By Crises

Author

Listed:
  • RADU VALENTIN

    (VALAHIA UNIVERSITY OF TARGOVISTE, ROMANIA)

  • NEACSU ANDREI-COSTIN

    (BUCHAREST UNIVERSITY OF ECONOMIC STUDIES, ROMANIA)

  • NEACSU GEORGE-ALEXANDRU

    (BUCHAREST UNIVERSITY OF ECONOMIC STUDIES, ROMANIA)

  • BICHIR ANTONELA

    (VALAHIA UNIVERSITY OF TARGOVISTE, ROMANIA)

  • TABIRCA ALINA-IULIANA

    (VALAHIA UNIVERSITY OF TARGOVISTE, ROMANIA)

  • CROITORU IONUT-MARIUS

    (NATIONAL UNIVERSITY OF SCIENCE AND TECHNOLOGY POLITEHNICA BUCHAREST)

  • MIHAI DANUT-GEORGIAN

    (BUCHAREST UNIVERSITY OF ECONOMIC STUDIES)

Abstract

This paper illustrates the impact of the rising prices of the main natural resources used in the production process, oil, and natural gas, on the eurozone economy using a Vector Autoregressive (VAR) model. It also assesses the dependence of the eurozone economy on fossil fuels from Russia and the need to adopt green, renewable energy. The study compares the shocks administered pre/post the outbreak of the Covid-19 pandemic and the outbreak of the war in Ukraine. Finally, based on the futures trajectory of the Brent oil price, a conditional forecast for macroeconomic variables in the euro area is assessed.

Suggested Citation

  • Radu Valentin & Neacsu Andrei-Costin & Neacsu George-Alexandru & Bichir Antonela & Tabirca Alina-Iuliana & Croitoru Ionut-Marius & Mihai Danut-Georgian, 2024. "Economic Impacts Of Energy Price Shocks In The Eu Driven By Crises," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 127-140, June.
    • Handle: RePEc:cbu:jrnlec:y:2024:v:3:p:127-140
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