Akarca, A. T.; Long, T. "The 1979 Oil Price Shock and Inflation in Five Industrial Countries: An Intervention Analysis," in O. D. Anderson, ed., Time Series Analysis: Theory and Practice , Amsterdam: North Holland, 1983, pp. 187–92....
andforstagflation(atermcoinedtorefertotheunprecedentedcoincidenceofinflationandeconomicstagnationduringthe1970s).Theyalsohavebeenheldresponsibleforchangesinmonetarypolicy,forfar-reachinglabormarketadjustments,andforchangesinenergytechnologies.Whiletheinterestinoilpriceshockswanedinthe1990s,thefluctuationsintherealpriceofoil...
real GDP and CPI inflation depend on the cause of the oil price increase. However, his model does not account for feedback from the U.S. macro economy to the global oil market. As first argued by Sims (1980), it is crucial, when studying the response of macroeconomic variables to ...
The impulse response functions indicate that the oil price shocks depress the real gross domestic product while the real exchange rate also experiences depreciation. However, the long-term interest rate and the inflation rate rise as a result of a positive oil price shock. The unanticipated changes...
Our counterfactual analysis indicates that the reaction of the U.S. interest rate as an indirect transmission channel for oil price shocks plays a moderate role in explaining the real exchange rate and inflation, but has negligible impacts on the Canadian output and interest rate. 展开 ...
When prices are sticky, oil price shocks lead to reduced output, lower inflation, and real exchange rate deprecation. These recessionary effects occur whether or not oil is in the production function because of the close relationship between consumer durables and oil. Tentative results suggest that ...
This contribution looks into the impact of oil price changes on growth and inflation. Oil price shocks affect the economy through the supply side (higher production costs, reallocation of resources), the demand side (income effects, uncertainties) and the terms of trade. The effects of oil price...
price of oil. A historical decomposition sheds light on the causes of the major oil price shocks since 1975. The effects of higher oil prices on U.S. real GDP and CPI inflation are shown to depend on the cause of the oil price increase, suggesting that policies aimed at dealing with ...
2.Based on reviewing the fluctuation of international petroleum price,this paper analyzes on the reasons of the fluctuation of petroleum price,and points out the influence of petroleum price inflation on Chinese economic safety.在回顾国际石油价格变动的基础上,分析了石油价格变动的原因,指出石油价格的上涨...
The analysis revealed that there is long run relationship between domestic private investment, oil price shocks, exchange rate, inflation, income and credit to private sector. The study found negative effect of oil price shocks on investment. This indicate that shock in oil prices leads to a ...