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Investigating the Economic and Social Impact Induced by Electricity Prices

In: Crisis after the Crisis: Economic Development in the New Normal

Author

Listed:
  • Constantin Marin

    (“Victor Slãvescu” Financial and Monetary Research Centre)

  • Cosmin-Octavian Cepoi

    (“Victor Slãvescu” Financial and Monetary Research Centre)

  • Denisa Gabriela Grosu

    (“Victor Slãvescu” Financial and Monetary Research Centre)

Abstract

We investigate the energy situation in Romania and the impact of the liberalization of energy prices on some key macroeconomic variables. The factors generating the energy crisis, especially the COVID-19 pandemic, do not seem to leave too much time for the governments to solve the energy and economic crisis. The effects of the growing interest rate will appear soon since the National Bank of Romania increased the monetary policy rate. The estimated results indicate that the electricity price index has a persistent impact on the prices of industrial production, which is an intuitive finding. However, the impact is more visible during episodes of high inflation.

Suggested Citation

  • Constantin Marin & Cosmin-Octavian Cepoi & Denisa Gabriela Grosu, 2023. "Investigating the Economic and Social Impact Induced by Electricity Prices," Springer Proceedings in Business and Economics, in: Luminita Chivu & Ignacio De Los Ríos Carmenado & Jean Vasile Andrei (ed.), Crisis after the Crisis: Economic Development in the New Normal, chapter 0, pages 367-378, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-30996-0_25
    DOI: 10.1007/978-3-031-30996-0_25
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