Abstract
We apply recursive VAR/VECM as well as panel data models to examine whether oil price shocks have any significant impacts upon the Asian small open economies. We found no significant impacts on Real Gross Domestic Product (RGDP), regardless of model specifications. However, we detected positive significant effects on unemployment after three time lags and significant contemporaneous effects on CPI in panel regressions contrary to previous studies.
| Original language | English |
|---|---|
| Pages (from-to) | 1599-1602 |
| Number of pages | 4 |
| Journal | Applied Economics Letters |
| Volume | 19 |
| Issue number | 16 |
| DOIs | |
| Publication status | Published - 1 Jan 2012 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
Keywords
- Hong Kong
- Real GDP
- Singapore
- South Korea
- Taiwan
- VAR
- VECM
- oil price shocks
- panel data model
- unemployment
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