Oil shocks and the euro as an optimum currency area

Detalhes bibliográficos
Autor(a) principal: Conraria, Luís Aguiar
Data de Publicação: 2013
Outros Autores: Rodrigues, Teresa Maria, Soares, M. J.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/1822/23035
Resumo: We use wavelet analysis to study the impact of the Euro adoption on the oil price macroeconomy relation in the Euroland. We uncover evidence that the oil-macroeconomy relation changed in the past decades. We show that after the Euro adoption some countries became more similar with respect to how their macroeconomies react to oil shocks. However, we also conclude that the adoption of the common currency did not contribute to a higher degree of synchronization between Portugal, Ireland and Belgium and the rest of the countries in the Euroland. On the contrary, in these countries the macroeconomic reaction to an oil shock became more asymmetric after adopting the Euro.
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spelling Oil shocks and the euro as an optimum currency areaOil pricesBusiness cylesthe EuroOptimum currency areasWavelet analysisWe use wavelet analysis to study the impact of the Euro adoption on the oil price macroeconomy relation in the Euroland. We uncover evidence that the oil-macroeconomy relation changed in the past decades. We show that after the Euro adoption some countries became more similar with respect to how their macroeconomies react to oil shocks. However, we also conclude that the adoption of the common currency did not contribute to a higher degree of synchronization between Portugal, Ireland and Belgium and the rest of the countries in the Euroland. On the contrary, in these countries the macroeconomic reaction to an oil shock became more asymmetric after adopting the Euro.COMPETE; QREN; FEDER; Fundação para a Ciência e a Tecnologia (FCT)Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoConraria, Luís AguiarRodrigues, Teresa MariaSoares, M. J.20132013-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/23035enghttp://new.nipe.eeg.uminho.pt/Uploads/NIPE_WP_01_2013.pdfinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:43:15Zoai:repositorium.sdum.uminho.pt:1822/23035Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T19:40:40.343738Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Oil shocks and the euro as an optimum currency area
title Oil shocks and the euro as an optimum currency area
spellingShingle Oil shocks and the euro as an optimum currency area
Conraria, Luís Aguiar
Oil prices
Business cyles
the Euro
Optimum currency areas
Wavelet analysis
title_short Oil shocks and the euro as an optimum currency area
title_full Oil shocks and the euro as an optimum currency area
title_fullStr Oil shocks and the euro as an optimum currency area
title_full_unstemmed Oil shocks and the euro as an optimum currency area
title_sort Oil shocks and the euro as an optimum currency area
author Conraria, Luís Aguiar
author_facet Conraria, Luís Aguiar
Rodrigues, Teresa Maria
Soares, M. J.
author_role author
author2 Rodrigues, Teresa Maria
Soares, M. J.
author2_role author
author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Conraria, Luís Aguiar
Rodrigues, Teresa Maria
Soares, M. J.
dc.subject.por.fl_str_mv Oil prices
Business cyles
the Euro
Optimum currency areas
Wavelet analysis
topic Oil prices
Business cyles
the Euro
Optimum currency areas
Wavelet analysis
description We use wavelet analysis to study the impact of the Euro adoption on the oil price macroeconomy relation in the Euroland. We uncover evidence that the oil-macroeconomy relation changed in the past decades. We show that after the Euro adoption some countries became more similar with respect to how their macroeconomies react to oil shocks. However, we also conclude that the adoption of the common currency did not contribute to a higher degree of synchronization between Portugal, Ireland and Belgium and the rest of the countries in the Euroland. On the contrary, in these countries the macroeconomic reaction to an oil shock became more asymmetric after adopting the Euro.
publishDate 2013
dc.date.none.fl_str_mv 2013
2013-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/1822/23035
url http://hdl.handle.net/1822/23035
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv http://new.nipe.eeg.uminho.pt/Uploads/NIPE_WP_01_2013.pdf
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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