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dc.contributor.authorYeh, Fang-Yuen_US
dc.contributor.authorHu, Jin-Lien_US
dc.contributor.authorLin, Cheng-Hsunen_US
dc.date.accessioned2014-12-08T15:23:15Z-
dc.date.available2014-12-08T15:23:15Z-
dc.date.issued2012-05-01en_US
dc.identifier.issn0301-4215en_US
dc.identifier.urihttp://hdl.handle.net/11536/16332-
dc.description.abstractWhile limited by its scarcity of natural resources, the impacts of energy price changes on Taiwan's economic activities have been an important issue for social public and government authorities. This study applies the multivariate threshold model to investigate the effects of various international energy price shocks on Taiwan's macroeconomic activity. By separating energy price changes into the so-called decrease and increase regimes, we can realize different impacts of energy price changes and their shocks on economic output. The results confirm that there is an asymmetric threshold effect for the energy-output nexus. The optimal threshold levels are exactly where the oil price change is at 2.48%, the natural gas price change is at 0.66%, and the coal price.:hange is at 0.25%. The impulse response analysis suggests that oil price and natural gas shocks have a delayed negative impact on macroeconomic activities. (C) 2012 Published by Elsevier Ltd.en_US
dc.language.isoen_USen_US
dc.subjectEnergy price shocksen_US
dc.subjectMultivariate threshold error correction model (MVTECM)en_US
dc.subjectAsymmetryen_US
dc.titleAsymmetric impacts of international energy shocks on macroeconomic activitiesen_US
dc.typeArticleen_US
dc.identifier.journalENERGY POLICYen_US
dc.citation.volume44en_US
dc.citation.issueen_US
dc.citation.epage10en_US
dc.contributor.department經營管理研究所zh_TW
dc.contributor.departmentInstitute of Business and Managementen_US
dc.identifier.wosnumberWOS:000302848700002-
dc.citation.woscount2-
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