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We investigate whether the response of the macro-economy to oil price shocks undergoes episodic changes. Employing a regime-switching vector autoregressive model we identify two regimes that are characterized by qualitatively different patterns in economic activity and inflation following oil...
Persistent link: https://www.econbiz.de/10011709632
We investigate whether the response of the macro-economy to oil price shocks undergoes episodic changes. Employing a regime-switching vector autoregressive model we identify two regimes that are characterized by qualitatively different patterns in economic activity and inflation following oil...
Persistent link: https://www.econbiz.de/10011771984
We investigate whether the response of the macro-economy to oil price shocks undergoes episodic changes. Employing a regime-switching vector autoregressive model we identify two regimes that are characterized by qualitatively different patterns in economic activity and inflation following oil...
Persistent link: https://www.econbiz.de/10012931102
Persistent link: https://www.econbiz.de/10003282998
Persistent link: https://www.econbiz.de/10011787852
burden and may also amplify the volatility of GDP growth rates. This can be particularly true when we consider a currency … investigate the relationships between i) real GDP per capita growth and debt, and ii) GDP growth volatility and debt, and to … linked negatively to economic growth and positively to growth volatility. Some policy implications arise, such as the need to …
Persistent link: https://www.econbiz.de/10014318632
Persistent link: https://www.econbiz.de/10003826274
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The aim of this article is to investigate the consequences of oil price changes for the economy of the US and the euro area. Oil price transmission channel is assessed using Granger causalities and structural vector autoregressive (VAR) specifications (applying the Cholesky factorization and the...
Persistent link: https://www.econbiz.de/10012651358