Oil price shocks and the Portuguese economy since the 1970s

Detalhes bibliográficos
Autor(a) principal: Robalo, Pedro Brito
Data de Publicação: 2008
Outros Autores: Salvado, João Cotter
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/11575
Resumo: This paper assesses empirically the effect of oil price shocks on Portuguese aggregate economic activity, industrial production and price level. We take the usual multivariate VAR methodology to investigate the magnitude and stability of this relationship. In doing so, we follow the approach presented in the recent literature and adopt different oil price specifications. We conclude that, as for most industrialized countries, the nature of this relationship changed in the mid-1980s. Furthermore, we show that the main Portuguese macroeconomic variables have become progressively less responsive to oil shocks and the adjustment towards equilibrium has become increasingly faster.
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spelling Oil price shocks and the Portuguese economy since the 1970sOil price shocksGranger causalityImpulse response analysisThis paper assesses empirically the effect of oil price shocks on Portuguese aggregate economic activity, industrial production and price level. We take the usual multivariate VAR methodology to investigate the magnitude and stability of this relationship. In doing so, we follow the approach presented in the recent literature and adopt different oil price specifications. We conclude that, as for most industrialized countries, the nature of this relationship changed in the mid-1980s. Furthermore, we show that the main Portuguese macroeconomic variables have become progressively less responsive to oil shocks and the adjustment towards equilibrium has become increasingly faster.Nova SBERUNRobalo, Pedro BritoSalvado, João Cotter2014-03-13T11:26:47Z20082008-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/11575enginfo: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:RCAAP2024-03-11T03:46:06Zoai:run.unl.pt:10362/11575Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:20:23.778325Repositório 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 price shocks and the Portuguese economy since the 1970s
title Oil price shocks and the Portuguese economy since the 1970s
spellingShingle Oil price shocks and the Portuguese economy since the 1970s
Robalo, Pedro Brito
Oil price shocks
Granger causality
Impulse response analysis
title_short Oil price shocks and the Portuguese economy since the 1970s
title_full Oil price shocks and the Portuguese economy since the 1970s
title_fullStr Oil price shocks and the Portuguese economy since the 1970s
title_full_unstemmed Oil price shocks and the Portuguese economy since the 1970s
title_sort Oil price shocks and the Portuguese economy since the 1970s
author Robalo, Pedro Brito
author_facet Robalo, Pedro Brito
Salvado, João Cotter
author_role author
author2 Salvado, João Cotter
author2_role author
dc.contributor.none.fl_str_mv RUN
dc.contributor.author.fl_str_mv Robalo, Pedro Brito
Salvado, João Cotter
dc.subject.por.fl_str_mv Oil price shocks
Granger causality
Impulse response analysis
topic Oil price shocks
Granger causality
Impulse response analysis
description This paper assesses empirically the effect of oil price shocks on Portuguese aggregate economic activity, industrial production and price level. We take the usual multivariate VAR methodology to investigate the magnitude and stability of this relationship. In doing so, we follow the approach presented in the recent literature and adopt different oil price specifications. We conclude that, as for most industrialized countries, the nature of this relationship changed in the mid-1980s. Furthermore, we show that the main Portuguese macroeconomic variables have become progressively less responsive to oil shocks and the adjustment towards equilibrium has become increasingly faster.
publishDate 2008
dc.date.none.fl_str_mv 2008
2008-01-01T00:00:00Z
2014-03-13T11:26:47Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/11575
url http://hdl.handle.net/10362/11575
dc.language.iso.fl_str_mv eng
language eng
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dc.publisher.none.fl_str_mv Nova SBE
publisher.none.fl_str_mv Nova SBE
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
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