Publication
The macroeconomic impact of oil price shocks on the Euro zone economies
| Summary: | This paper analyses the macroeconomic impact of oil price shocks on the Euro zone between 1970 and 2005, trying to perceive the differences between the 70s and the 90s. The main idea is to understand how oil price variations affect variables such as GDP, GDP deflator and the interest rate. I also allow all of these variables to be affected by world demand and consider the oil price as an endogenous variable. Using the multivariate VAR methodology, I construct an empirical model and conclude that there is a break in 1980 with a significant change in variables’ behaviour. |
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| Main Authors: | Pimenta, Ana Isabel Tavares de Matos |
| Subject: | Oil Price Shocks VAR Euro Zone |
| Year: | 2009 |
| Country: | Portugal |
| Document type: | master thesis |
| Access type: | embargoed access |
| Associated institution: | Universidade Nova de Lisboa |
| Language: | English |
| Origin: | Repositório Institucional da UNL |
| Summary: | This paper analyses the macroeconomic impact of oil price shocks on the Euro zone between 1970 and 2005, trying to perceive the differences between the 70s and the 90s. The main idea is to understand how oil price variations affect variables such as GDP, GDP deflator and the interest rate. I also allow all of these variables to be affected by world demand and consider the oil price as an endogenous variable. Using the multivariate VAR methodology, I construct an empirical model and conclude that there is a break in 1980 with a significant change in variables’ behaviour. |
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