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A Snapshot of Where We Are. A Gross Domestic Product Analysis Related to Household Energy Price Index in the European Union

Author

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  • Giorgiana Roxana Ene

    (The Bucharest University of Economic Studies, Doctoral School of Finance, Romania)

Abstract

This is one of the few articles that investigate the relation between GDP and electricity and gas evolution, especially given the events in the last three years. The evolution of GDP related to the Household Energy Price Index in the European Union (27 countries) is analyzed with the help of VAR model and the variance decomposition, historical variance decomposition and Granger Causality test under VAR which provide proof that HEPI for electricity has a more significant contribution to GDP than HEPI for gas.

Suggested Citation

  • Giorgiana Roxana Ene, 2023. "A Snapshot of Where We Are. A Gross Domestic Product Analysis Related to Household Energy Price Index in the European Union," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 360-367, August.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:360-367
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    References listed on IDEAS

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    1. Sylvia Kaufmann, 2023. "Covid-19 outbreak and beyond: a retrospect on the information content of short-time workers for GDP now- and forecasting," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 159(1), pages 1-10, December.
    2. Dario Caldara & Sarah Conlisk & Matteo Iacoviello & Maddie Penn, 2022. "The Effect of the War in Ukraine on Global Activity and Inflation," FEDS Notes 2022-05-27-2, Board of Governors of the Federal Reserve System (U.S.).
    3. Christian Buelens & Vaclav Zdarek, 2022. "Euro area inflation shaped by two years of COVID-19 pandemic," Quarterly Report on the Euro Area (QREA), Directorate General Economic and Financial Affairs (DG ECFIN), European Commission, vol. 21(1), pages 7-20, May.
    4. Abosedra, Salah & Arayssi, Mahmoud & Ben Sita, Bernard & Mutshinda, Crispin, 2020. "Exploring GDP growth volatility spillovers across countries," Economic Modelling, Elsevier, vol. 89(C), pages 577-589.
    5. Gagnon, Joseph E. & Kamin, Steven B. & Kearns, John, 2023. "The impact of the COVID-19 pandemic on global GDP growth," Journal of the Japanese and International Economies, Elsevier, vol. 68(C).
    6. Liu, Na & Gao, Fumin, 2022. "The world uncertainty index and GDP growth rate," Finance Research Letters, Elsevier, vol. 49(C).
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    Cited by:

    1. Prados de la Escosura, Leandro & Rodríguez-Caballero, C. Vladimir, 2022. "War, pandemics, and modern economic growth in Europe," Explorations in Economic History, Elsevier, vol. 86(C).

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    More about this item

    Keywords

    GDP; HEPI; COVID-19; war; VAR model;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • N74 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: 1913-

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