Publication details
The Oil-Macroeconomy Relationship in the Czech Republic
| Authors | |
|---|---|
| Year of publication | 2014 |
| Type | Article in Proceedings |
| Conference | Hradec Economic Days 2014 |
| MU Faculty or unit | |
| Citation | |
| Web | http://fim.uhk.cz/hed/images/sbornik2014_4.pdf |
| Field | Economy |
| Keywords | Oil; GDP; causality; Czech Republic |
| Description | This article examines the influence of oil prices on the GDP in the various model and data specifications. The goal is to identify whether the oil prices exhibit significant influence on the selected macroeconomic indicators. Data show that oil prices are significant in the relation to the GDP growth. The differences between the various asymmetric or nonlinear oil price measures are not very profound. Furthermore, the data specification appears to be an important factor. Interannual data provide more stable estimation results and better explain the variance in the GDP growth than interperiod data. The oil-GDP relationship is mostly unidirectional from oil to GDP. |
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