The aim of this working paper is to apply the Bayesian VAR method to analyse the relationship between oil price movements and GDP in the Czech Republic. To capture the possible indirect channels reflecting the changes in the oil prices, the model includes also the inflation measured by CPI and...

International tourism is one of the most important sectors of the open economy. The aim of this paper is to investigate the effects that income as gross domestic product, tourism price as the real exchange rate, and travel cost as the price of Brent crude oil have on inbound tourism demand...

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...