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In this paper we analyse to what extent movements in oil prices can help to explain business cycle fluctuations in Germany.We proceed in several steps:As a starting point we use a standard real business cycle model for the German economy and introduce energy as an additional factor in the...
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In this paper we analyse to what extent movements in oil prices can help to explain business cycle fluctuations in Germany. We proceed in several steps: As a starting point we use a standard real business cycle model for the German economy and introduce energy as an additional factor in the...
Persistent link: https://www.econbiz.de/10014027648
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VAR based search on these periods, we are able to identify an oil price shock that affects the German production even on … subsequent recession in Germany even though it was by far not the main driver. -- oil price shock ; VAR model ; micro data …
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