ЦЕНОВНИТЕ ВАРИРАЊА НА ЕНЕРГИЈАТА-ПРИЧИНА ЗА НЕСТАБИЛНОСТ НА ЕКОНОМИЈАТА
ENERGY PRICE FLUCTUATION - REASON FOR ECONOMY INSTABILITY

Summary/Abstract: Energy is deficiency resources. The lack of energy is immanent in the world economy. Present situation in the world energy market like oligopoly on the supply side and organized cartels for producers of oil makes oil price to be variable and to grow. Increased oil price has impact on the economic activity (economic growth, employment, inflation i.e.). This paper combines the theory about the model of new Keynesian for the macroeconomic equilibrium and the present situation in the energy sector in the Republic of Macedonia. Paper discus about the cause and consequences of the recent oil price increase and the appropriate policy response. Volatile prices arise from supply and demand that are both highly inelastic in the short run, with the result that even small shocks can have large effects on price. The difficulty of predicting long-run supply and demand creates uncertainty about future prices. The revival of the economy after the period of long stagnation in the Republic of Macedonia is with the correlation of increased use of energy. Republic of Macedonia is poor with source of cruel oil and other sources of energy. But the structure of the industry is energy highly intensive and depends of imports of energy. The rise of the oil price has impact of economic growth in the Republic of Macedonia. Expensive oil import means expensive export. Increased oil price increased the transportation cost. This means that the biggest production cost effects on the reduction of economic growth, employment, financial performance, interest and etc.

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